Tata Steel Q3 consolidated net surges over five-fold to Rs 12.9 bn

Consolidated revenue from operations rose 15% to Rs 334.4 bn; the company also incurred exceptional charges of Rs 11.15 bn

Tata Steel Ltd on Friday posted a five-fold rise in third-quarter profit, boosted by strong volume growth in India and increasing steel prices.

"Global steel prices have been buoyant with improved trade position in China along with cost push from raw materials," Chief Executive Officer T V Narendran said. 

Quarterly total steel deliveries climbed about 8% to 6.56 million tons, with Indian deliveries contributing about 50% of the total.

Total revenue from operations grew 15% to Rs 334.47 billion, with revenue from Indian operations up 22%.

For the quarter ended Dec. 31, profit was Rs 12.94 billion, compared with Rs 2.43 billion in the