Feb 9 (Reuters) - India’s Tata Steel Ltd on Friday posted a five-fold rise in third-quarter profit, but missed analysts’ expectations.
For the quarter ended Dec. 31, profit was 12.94 billion rupees ($200.99 million), compared with 2.43 billion rupees in the same period a year earlier, the steelmaker said in a statement. bit.ly/2H0MXJu
Analysts on average had expected a profit of 13.92 billion rupees, according to Thomson Reuters data.
$1 = 64.3800 Indian rupees Reporting by Vishal Sridhar in Bengaluru, Editing by Kenneth Maxwell and Sunil Nair