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Tata Steel announced quarterly profit in the quarter ended 31 December due to the increasing demand of its steel products in Europe, which is the company’s largest market.
Tata's net profit was Rs 503.24 crore in the quarter ended 31 December. However, the company suffered a loss of Rs.763.06 crore in the year-ago period.
Tata Steel had put its efforts to cut costs by reducing jobs in the UK and using coking coal and iron ore from its own mines in Mozambique and Canada.
In addition, Tata also targeted on high-value product market.
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