Germany’s Thyssenkrupp returns to profit on India sale, but Europe’s steel woes persist

German industrial titan Thyssenkrupp said Thursday it returned to profit at the start of the year due to the sale of an Indian business but its troubled steel division took a hit.

The group, which makes everything from steel to submarines, reported a net profit of 167 million euros ($187 million) for the January to March period, compared to a 72-million-euro loss a year earlier.

It is the first time the company has booked a profit after six consecutive quarters in the red,...