India's Tata Steel Q2 profit rises 22 pct, beats forecasts

November 5, 2015 11:45 AM

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MUMBAI Nov 5 India's Tata Steel Ltd reported a surprise 22 percent rise in its quarterly consolidated net profit, as one-time gains during the quarter helped offset cheaper imports in India and Europe from the world's top steel producer China.

Net profit at Tata Steel, a unit of a hotels-to-automobiles conglomerate, rose to 15.29 billion rupees ($232.9 million) on a consolidated basis in the quarter ended Sept. 30, compared to 12.54 billion rupees in the year ago period.

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