Tata Steel posted a sharp decline in first-quarter profit, hit by weak demand and prices in its main European market.
Net profit after minority interest and share of associates was 5.98 billion rupees for the quarter ended June, compared with a profit of 53.5 billion rupees, including one-time gains of about 40 billion rupees, a year earlier.
A Reuters poll of brokerages had forecast net profit of 6.7 billion rupees.
Shares in Tata Steel, valued at $7 billion, closed down 1.2 percent ahead of the results.