Weak European ops dent Tata Steel profit

[Bilgin]

Weak European ops dent Tata Steel profit Tata Steel reported a 92% decline in its net profit for the June quarter due to underperformance in its European operations. Revenue in Tata Steel Europe fell 18% and Ebitda loss widened to ?1,569 crore, compared to a profit of ?6,037 crore the previous year. The company's Indian operations saw a stronger performance, with Ebitda per tonne at ?15,651, a slight drop from the previous quarter. Overall, Tata Steel's consolidated revenues fell 5.5% to ?59,490 crore. The company's net debt increased to ?71,397 crore at the end of June.