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Tata Steel third-quarter standalone profit soars on robust production


(Reuters) - Tata Steel Ltd reported an 83.6 percent surge in third-quarter standalone net profit on Friday, aided by robust domestic production.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 Tata Steel BSL Limited (formerly ...

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First Published: Fri, February 08 2019. 17:23 IST