Tata Steel Ltd. for the second quarter ended September 30 reported a consolidated net profit of ₹833.45 core compared with a net loss of ₹6,196.24 crore a year ago.
Revenue from operations for the quarter at ₹53,490 crore was down 3% from the same period last year.
The company on a standalone basis (India operations) reported net profit of ₹3,591 crore as compared with a net loss of ₹8,491 crore in the year ago period.
Standalone revenue from operations was down 5% to ₹32,014 crore against the year ago period.
The crude steel production of India business was 5.28 million tonne, up 5% on YoY basis. Deliveries stood at 5.11 million tonne, driven by 6% rise in domestic deliveries.
U.K. revenue during the quarter stood at £600 million and EBITDA loss stood at £147 million. Liquid steel production was 0.39 million tonne while deliveries were 0.63 million tonne, the company said.
Netherlands revenues were £1,300 million and EBITDA for the quarter was £22 million. Liquid steel production at 1.66 million tonne and deliveries at 1.50 million tonne, were up on YoY basis.
T V Narendran, Chief Executive Officer & Managing Director, Tata Steel said, “Global operating environment remained complex, with key regions facing subdued growth. Macro-economic conditions in China continued to weigh on commodity prices including steel. In India, steel demand continued to improve but domestic prices were under pressure due to cheap imports.”
“Despite this, Tata Steel has delivered broadly consistent performance. Among business verticals, automotive deliveries were aided by growth in hi-end products,” he said.
Published – November 06, 2024 08:01 pm IST
