NEW DELHI Aug 13 Tata Steel Ltd's
quarterly profit nearly doubled as costs at India's top
steelmaker by market value fell sharply, making up for a dip in
Net income rose to 11.39 billion rupees ($186 million) from
5.98 billion rupees a year earlier.
Net sales fell 3 percent to 328.05 billion rupees due to
lower prices in the April-June quarter.
Two-thirds of Tata Steel's 27 million tonne annual capacity
is in Europe, and Chairman Cyrus Mistry said in June that
volatile raw material prices and weak demand in key markets
would be "challenging" for the company over the next two years.