 "Tata Steel Q1 net sales down 17%")
Tata Steel on Tuesday posted a 17% drop in consolidated net sales for the April-June quarter, as a flood of cheaper imports hit steel prices.
The company's net profit for the period ended June 30 more than doubled to Rs 763 crore ($118.82 million), on a consolidated basis, from Rs 337 crore a year earlier.
The profit was helped by a one-time gain of Rs 158 crore compared with an charge of Rs 262 crore in the year-ago quarter.
Consolidated net sales for the quarter fell to Rs 2,990 crore.