Tata Steel has announced its financial results for the quarter ending December 31, 2024. The consolidated revenue from operations stood at ₹53,231.28 crore, reflecting a decline from ₹54,727.30 crore in the corresponding quarter last year. This marks a year-on-year (YoY) dip of approximately 2.73%.
On the profitability front, Tata reported a consolidated net profit of ₹295.49 crore for Q3 FY2024, a sharp decline compared to ₹522.14 crore in Q3 FY2023. This represents a YoY drop of 43.41%. The decline in net profit is attributed to several factors, including higher costs and subdued demand in key segments.
The company’s revenue also saw a sequential decline from ₹53,489.73 crore in Q2 FY2024, indicating pressures on operational performance.
Despite the challenges, Tata Steel remains optimistic about its long-term growth prospects, leveraging its diversified portfolio and ongoing operational efficiencies to navigate current market conditions.
