Tata Steel reported a 37 per cent rise in quarterly profit on Wednesday, beating market estimates, helped by one-off gains from sale of assets.
The company’s consolidated net profit was Rs. 1,254 crore for the second quarter ended September 30, from Rs. 917 crore a year earlier, Tata Steel said in a statement.
One-off gains for the quarter were Rs. 1,145 crore, Tata Steel said. Consolidated net sales for the quarter fell 2.4 per cent from a year earlier to Rs. 35,503 crore.
Analysts on average expected the country’s largest steel producer by market value to report a net profit of Rs. 738 crore.
