Indian steel giant tata steel announced Thursday that its consolidated net profit plunged 84.37% to 229.525 billion rupees in the fiscal fourth quarter ended March 31, 2019.In a filing with the Bombay stock exchange (BSE), the company said its net profit for the fourth quarter of the previous fiscal year was as high as rs1,468.802 million.

However, consolidated revenues for the first quarter of 2019 were rs429.137.3 billion, up from rs3398.374 billion in the same period last year.

Its shares closed at 510.90 rupees on the Bombay stock exchange on Thursday, down 2.74% from the previous close