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Tata Steel third-quarter standalone profit soars


(Reuters) - India's Steel Ltd posted an 83.6 percent surge in third-quarter standalone net profit on Friday.

Standalone profit came in at 24.56 billion rupees ($344.94 million) compared with 13.38 billion rupees in the same period a year earlier, the steelmaker said

According to I/B/E/S data from Refinitiv, analysts on average had expected a profit of 25.40 billion rupees.

On a consolidated basis, the company posted a net profit of 22.84 billion rupees. However, the numbers were not comparable due to its recent acquisition of Steel BSL Limited.

(Reporting by in Bengaluru; Editing by Kirsten Donovan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 16:36 IST