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Tata Steel swings to profit in first quarter


REUTERS - Tata Steel Ltd returned to profit in the first quarter of this year after a loss a year ago, helped by the ramp up of its Kalinganagar plant in the Indian state of Odisha.Revenue in the quarter jumped 19 percent, aided by increased capacity in India and Tata's restructuring efforts in Europe, said Koushik Chatterjee, group executive director (Finance and Corporate).The steelmaker's net profit came in at 9.21 billion rupees ($144.37 million) in the quarter ended June 30, compared to a loss of 31.83 billion rupees a year earlier. ( said it expected to ...

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First Published: Mon, August 07 2017. 19:36 IST