Tata Steel Profits Slide Amid Transition Efforts

Tata Steel reported a significant decline in net profit due to reduced income. While focusing on growth and decarbonization efforts, the company's debt and liquidity positions were highlighted. Production saw a moderate increase in India despite challenges in the UK due to operational adjustments.

Tata Steel has announced a sharp decline of 43.4% in its net profits for the quarter ending December 31, 2024, with figures dropping to Rs 295.49 crore down from Rs 522.14 crore in the same period last year. The fall in profits was attributed to a decrease in consolidated income.

Efforts to transition to low carbon steelmaking, particularly in the UK, have shown positive results, reducing costs and emissions. In the Netherlands, talks with the government for decarbonization support continue as the company aligns its operations with sustainable practices.

The group maintains robust liquidity levels with considerable cash reserves, despite a net debt of Rs 85,800 crore. Production in India reported growth, while deliveries in the UK dropped significantly following the closure of blast furnaces.

(With inputs from agencies.)