Tata Steel has posted a 76.15 per cent decline in net profit for the third quarter at Rs 27.51 crore compared with Rs 115.34 crore in the same period last year. The company attributed the lower profits to an almost 13 per cent decline in realisations.
Net sales increased 6.77 per cent from Rs 1,809.50 crore to Rs 1,931.99 crore on account of a 6.97 per cent jump in sales during the quarter.
Operating profit declined 31.35 per cent to Rs 287.48 crore against Rs 418.81 crore in the corresponding quarter of last year.
The company