On January 24, Tata Steel disclosed a consolidated net profit of Rs 522.14 crore for the third quarter, marking a significant turnaround from the net loss of Rs 2,501.95 crore reported in the same period the previous year.
Despite the profit gain, there was a 3% year-on-year decline in revenue from operations, amounting to Rs 55,312 crore. This figure was lower compared to Rs 57,084 crore recorded in the corresponding quarter of the previous year.
The India segment of Tata Steel witnessed a 2% growth in quarterly revenue, reaching Rs 34,681.90 crore.
The EBITDA margin saw a significant rise, reaching 11.3%, compared to the 7.1% reported in the corresponding period of the previous fiscal year. In the quarter, the company earmarked ₹4,715 crore for capital expenditure, with a total of ₹13,357 crore allocated for the initial nine months of fiscal year 2024.
There was a decrease of 12.5% in the revenue generated from European operations, totaling ₹18,141.97 crore.
