NEW DELHI May 14 India's Tata Steel Ltd
reported a bigger-than-expected fourth-quarter profit
as product launches and an upturn in the manufacturing sector in
Europe, its biggest market, helped sales grow at their fastest
in three quarters and boosted margins.
Net income hit a three-quarter high of 10.36 billion rupees
($173 million) in the three months that ended on March 31,
compared with a loss a year earlier. Net sales jumped 23 percent
to 420.18 billion rupees.
Analysts on an average had expected a profit of 9.64 billion
rupees on sales of 391.9 billion rupees, according to data from
Thomson Reuters StarMine.
($1 = 59.7800 Indian Rupees)
(Reporting by Krishna N Das; Editing by Matt Driskill)