Tata Steel Q1 net triples on Riversdale stake sale

Tata Steel beat street estimate by posting a multi-fold increase in its April-June quarter at Rs 5,346 crore, as against 1,825 crore Y-o-Y, boosted by gains from selling its stake in Riversdale Mining Ltd. and a settlement won over a breach of contract at unit Teesside cast products.

August 12, 2011 / 19:06 IST

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Tata Steel beat street estimates by posting a multi-fold increase in its April-June quarter at Rs 5,346 crore, as against 1,825 crore Y-o-Y, boosted by gains from selling its stake in Riversdale Mining and a settlement won over a breach of contract at unit Teesside cast products.

Excluding a one-time gain of Rs 2,880 crore from the company's sale of its stake in Australian coal miner Riversdale to Rio Tinto , Tata Steel reported a profit of Rs 2,470 crore.

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first published: Aug 12, 2011 03:08 pm

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