×

Tata Steel Europe operations facing headwinds-exec

MUMBAI, Nov 12 (Reuters) - Tata Steel continues to face headwinds in its European operations amid "a bit of overcapacity" in the region, the head of the company's Indian operations said on Friday. Speaking to reporters after reporting financial results for the fiscal second quarter, H.M. Nerurkar said the European unit saw incremental recovery in that period. He said prices in Europe increased in the second quarter when compared to the first quarter of this year. Prices in India, however, decreased, he said. The company on Friday beat analysts' forecasts by posting a net profit after taxes, minority interest and share of profit of associates of 19.79 billion rupees ($442 million) for its fiscal second quarter ended September. ($1=44.8 rupees) (Reporting by Prashant Mehra; Editing by Jui Chakravorty) ((prashant.mehra@thomsonreuters.com; +91 22 6636 9029; Reuters Messaging: prashant.mehra.reuters.com@reuters.net)) Keywords: TATASTEEL/ (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.