India's Tata Steel Long Products falls 6% as Q4 profit plunges

Tata Steel Long Products

20/04/2022 08:34

** Shares of sponge iron maker  TTST.NS  fall as much as
6.2% to 753 rupees, biggest intra-day pct loss since Feb 24
    ** Co on Tuesday reported March qtr profit that plunged over
82% as input costs nearly doubled (https://bit.ly/3voqtfe)
    ** Cost of materials consumed surged to 11.32 billion rupees
($148.25 million)
    ** Higher commodity costs have been hurting the co since Dec
qtr  urn:newsml:reuters.com:*:nL4N2TY18W
    ** About 303,546 shares change hands vs 30-day avg of
103,750
    ** TTST shares up 3.5% YTD after gaining 30.5% last year
    


($1 = 76.3575 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))