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India's Tata Steel shares fall at pre-open after weak earnings
February 9, 2015 / 3:46 AM / 3 years ago

India's Tata Steel shares fall at pre-open after weak earnings

MUMBAI, Feb 9 (Reuters) - Shares in India’s Tata Steel Ltd fell 3.2 percent in pre-open trade after the company reported a 69 percent drop in its December quarter profits.

Tata Steel’s consolidated net profit fell to 1.57 billion rupees ($25 million) in the three months through Dec. 31, the lowest since the second quarter of 2013, from 5.03 billion a year earlier.

Shares in Tata Steel, part of the $100 billion Tata conglomerate, fell 5.9 percent in 2014, compared to a 31.4 percent gain in the broader NSE index. (Reporting by Indulal PM and Swati Bhat; Editing by Sunil Nair)

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