Tata Steel slipped over 2 percent intraday on August 8, a day after it reported a steep 64.3 percent year-on-year (YoY) decline in June quarter profit at Rs 693 crore amid muted revenue growth and subdued operating income. The profit in the corresponding quarter last year was Rs 1,940.8 crore. Lower other income (down 29 percent YoY) also impacted the bottom line. Revenue during the quarter grew 1.27 percent YoY to Rs 35,947.1 crore, dented by lower domestic and Europe growth.
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