Tata Steel sees drop in its Q3 results

Mumbai, Jan 28: Tata Steel on Wednesday, Jan 28 announced drop in its net profit for third quarter ended Dec 3, 2008, compared to Rs 1,068.58 crore in the same period last year.

The total income declined by 4.19 per cent to Rs 4,810.63 crore for the quarter under review as against Rs 5,020.97 crore.

During the nine month ended Dec 2008, the company reported net profit of Rs 3,742.45 crore, as compared to Rs 3,481.52 crore in the corresponding period last fiscal.

Total income of the nine-month ended Dec 2008 rose to Rs 18,076.92 crore, whereas it was Rs 14,192.71 crore in the year-ago period.

The company's exports dropped to Rs 404.30 crore from Rs 596.04 crore in the corresponding quarter last year.

OneIndia News (With inputs from Agencies)