Tata Steel Ltd reported more than threefold growth in net income in the second quarter, easily outperforming market valuations, boosted by strong sales in India.
Net income was Rs 31.16 billion (USD 428.79 million) in the second fiscal quarter ended September 30. Then, as a year earlier, the profit amounted to 10.18 billion rupees, the company said.
Thirteen analysts on average expected the Mumbai-based firm to post profits of Rs 22.47 billion, according to Refinitiv.
Total operating income rose 34.1% to Rs 435.44 billion.
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