Tata Steel swings back to profit in Q1 at Rs 921 cr

Sales volumes were boosted by ramp-up of its Kalinganagar plant

Tata Steel Ltd swung to a first-quarter profit from a loss a year ago, as sales volumes were boosted by the ramp-up of its Kalinganagar plant.

The steelmaker's net profit came in at Rs 921 crore in the quarter ended June 30, compared to a loss of Rs 3,183 crore a year earlier. 

The company said gross debt in the quarter increased by Rs 4,798 crore due to forex impact.

Consolidated total income rose 19% to Rs 31,129 crore versus Rs 26,107 crore last year, aided by increased capacity in India and Tata's restructuring efforts in Europe, Koushik Chatterjee, group