Tata Metal Q1 net slumps, hit by poor need

INDIA, MUMBAI: Tata Metal published a distinct decrease in first-quarter benefit, hit by poor need and prices in its main Western market.
Net benefit after community interest and share of affiliates was 5.98 billion dollars rupees ($108 million) for the one fourth finished May, compared with a benefit of 53.5 billion dollars rupees, such as one-time profits of about 40 billion dollars rupees, last year.
A Reuters study of brokers had prediction net benefit of 6.7 billion dollars rupees.
Shares in Tata Metal, respected at $7 billion dollars, shut down 1.2 % ahead of the results