Tata Steel LtdBSE 0.48 % reported 37 per cent YoY increase in net profit number to Rs 1,254 crore on Wednesday for the quarter ended September 30, helped by one-time gain of Rs 1,147 crore.
The reported net profit was higher than ET Now estimate of Rs 600 crore. The outperformance was largely led by sale of non-current asset.
The steel major reported a consolidated net profit of Rs 917 crore in the corresponding quarter of last fiscal
Ahead of the results, shares of Tata Steel closed 2.3 per cent lower at Rs 468.30. They hit a low of Rs 466.55 and a high of Rs 483 in trade today.
Tata Steel reported net sales of Rs 35,503 crore for the second quarter of the current fiscal, down 2 per cent YoY as compared to Rs 36,369 crore reported in the year-ago period.
otal Income has decreased from Rs. 36848.25 crore for the quarter ended September 30, 2013 to Rs. 36098.63 crore for the quarter ended September 30, 2014.
Source: ET
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