Mumbai, July 30 -- Tata Steel beat Street estimates in the June quarter as improved steel prices and cost controls helped offset weak demand and lower volumes across markets. During the quarter, production was hit by planned maintenance shutdowns, but the company expects volumes to improve in the next quarter with ramp-ups at its Kalinganagar plant.

India's second-biggest steel maker by capacity reported that consolidated net profit for the April-June quarter more than doubled year-on-year (y-o-y) to Rs.2,077.68 crore, aided by better realisations in India and narrowing losses in its UK business. A Bloomberg poll of 21 analysts had estimated a profit of Rs.1,849 crore.

In Q1 of FY25, Tata Steel had reported net profit of Rs.918.57 crore...