Tata Steel shares climb 4.5% as Q1 profit soars

Shares of Tata Steel rose by 4.5% today after the company's consolidated net profit jumped over two-fold to Rs 763 crore in the first quarter. 

The stock gained 4.45% to Rs 257.90 at the BSE. 

It climbed 4.49% to Rs 257.90 at the NSE. 

The company's consolidated net profit jumped over two-fold for the reported quarter helped by strong sales from its Indian operation, cost optimisation and sale of non-core assets.

Its consolidated total income, however, fell 17 per cent to Rs 30,300.33 crore during the April-June quarter this fiscal, from Rs 36,427.21 crore in the same period a year ago. 

Total expenses fell 14 per cent to Rs 28,872.59 crore from Rs 33,704.92 crore for the reported quarter.