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Tata Steel reports a consolidated net profit of Rs 1,934 crore, misses estimates

Tata Steel reports a consolidated net profit of Rs 1,934 crore, misses estimates

Tata Steel reports a consolidated net profit of Rs 1,934 crore, misses estimates
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By Shubham Singh  Aug 14, 2018 6:58:48 AM IST (Updated)

Tata Steel reported a consolidated a net profit of Rs 1,934 crore,  missing CNBC TV18 estimates by 25 percent for the first quarter of FY19.

Tata Steel reported a consolidated a net profit of Rs 1,934 crore,  missing CNBC TV18 estimates by 25 percent for the first quarter of FY19.

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Its total income in April-June 2018 grew to Rs 38,180.05 crore from Rs 31,128.80 crore in the first quarter of 2017-18 fiscal, Tata Steel said in a BSE filing.
The company's expenses during the said quarter were at Rs 34,840.89 crore as against Rs 28,844.16 crore in the year-ago quarter.
Shares of the company today ended 1.10 per cent down at Rs 569.20 apiece on BSE.
"We expect underlying steel demand to be strong, particularly in India. However, the rising trade tensions and the impact on the global economic momentum is a cause of concern," said chief executive officer, T V Narendran.
(With inputs from PTI)
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