Monday, June 14, 2021
HomeBusinessTata Steel Q2 profit rises 37pc on one-off gains

Tata Steel Q2 profit rises 37pc on one-off gains

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.

Most Popular

- Advertisment -