Tata Steel's profit jumps eightfold, beats estimates

With its underlying business benefiting from higher volumes, operating leverage and tight cost control in a weak pricing environment, domestic steelmaker Tata Steel Ltd’s net profit surged eight-fold in the December quarter.

- Dipali Banka

To be sure, that was aided by a low base from write-offs done last year at Tata Steel Europe.

Meanwhile, its European business continued to struggle in a challenging environment marked by weak demand, pricing pressure and delayed policy support, particularly in the UK. Operating revenues fell significantly in the Netherlands, and losses marginally improved in the UK.