February 9, 2018 / 10:28 AM / 7 months ago

India's Tata Steel posts five-fold rise in Q3 profit

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

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