Tata Steel reports second-quarter profit below expectations

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(Reuters) – India’s Tata Steel Ltd noted a lessen than anticipated next-quarter financial gain, the business explained on Monday.

Waste steel is viewed at Tata Steel’s new robotic welding line at their Automotive Service Centre in Wednesfield, Britain, February 15, 2017. REUTERS/Darren Staples

Web financial gain was 10.18 billion rupees ($156.93 million) in the quarter ending Sept. 30 as opposed with a decline of 493.8 million rupees a yr earlier, the steel-maker explained. bit.ly/2xxynUt

Analysts on regular experienced anticipated a financial gain of 16.78 billion rupees, in accordance to Thomson Reuters info.

($1 = 64.8700 Indian rupees)

Reporting by Vishal Sridhar in Bengaluru, editing by Louise Heavens

Our Expectations:The Thomson Reuters Have confidence in Concepts.

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