Tata Steel Q1 net profit jumps over 2-fold to Rs 763 cr

Tata Steel today reported an over two-fold jump in its consolidated net profit at Rs 762.96 crore for the April-June quarter of this fiscal, helped by lower expenses.
The Mumbai-based steel giant had clocked a net profit of Rs 337.33 crore in the corresponding quarter last fiscal, it said in a BSE filing.
Its consolidated total income, however, fell by 17 per cent to Rs 30,300.33 crore during the April-June quarter of this fiscal from Rs 36,427.21 crore in the same period a year ago.
Tata Steel's total expenses fell by 14 per cent to Rs 28,872.59 crore from Rs 33,704.92 crore in the year-ago period.

The firm, which is among the top-ten global steel companies, had reported a net loss of Rs 5,674 crore in the January-March quarter of 2014-15 fiscal.
The firm said: "Exceptional item in the consolidated results includes Rs 1,270.21 crore on sale of its stake in The Dhamra Port Company Ltd."
Shares of the company declined by 5.46 per cent to settle at Rs 246.90 apiece on the BSE.