Tata Steel’s first quarter profit plummets as expenses rise and prices fall

India's Tata Steel reported a staggering 92 per cent slump in quarterly profits, due to falling alloy prices and expenses related to a pension plan in the UK. Consolidated net profit was 6.34 billion rupees ($77.5 million) for the three months to 30 June, while total sales from operations fell 6.2% to 594.90 billion rupees […]