Tata Steel Ltd.

Tata Steel reported results for the quarter ended September 30, 2011.

The company’s net profit for the quarter has declined by 27.60% at Rs 1495.22 crore as compared to Rs 2065.13 crore for the quarter ended September 30, 2010. Company’s total income has marginally increased by 5.05% at Rs 8235.50 crore for the second quarter of the current fiscal from Rs 7839.42 crore for the corresponding quarter of the previous year.

On consolidated basis, group’s profit after taxes, Minority interest and share of profit of associates has declined by 89.26% at Rs 212.43 crore for Q2FY12 as compared to Rs 1978.81 crore for Q2FY11. Group’s total income has increased by 11.74% at Rs 32918.33 crore for the quarter under review from Rs 29460.61 crore for September quarter of the previous Fiscal.

Tata Steel, India’s biggest producer reported an 89% drop in fiscal second-quarter group profit because of waning demand, foreign-exchange losses and higher raw material costs at its European operations.