Tata Steel Thrives: Profit Quadruples Amidst Global Challenges

Tata Steel reported a fourfold increase in Q3 profits to Rs 3,183.09 crore. The growth was driven by strong India operations, despite global economic challenges. CEO T V Narendran highlighted the company's focus on decarbonisation and debt reduction, while pursuing strategic acquisitions in the Indian downstream sector.

Tata Steel has announced a significant financial boost, with its consolidated net profit for the September quarter soaring to Rs 3,183.09 crore, driven largely by its Indian operations. This marks a more than fourfold increase from Rs 758.84 crore in the same period of the previous financial year.

The company reported total income growth to Rs 59,052.84 crore, an 8% rise year-on-year, with India operations contributing approximately Rs 38,592 crore. CEO T V Narendran noted the company's resilience amid global tariffs, geopolitical tensions, and elevated steel exports, with an improvement in EBITDA margin for the second consecutive quarter.

On a strategic front, Tata Steel is advancing its decarbonisation efforts in the UK and Netherlands, having signed a non-binding Joint Letter of Intent with the Dutch government. Financially, the corporation has succeeded in reducing its debts significantly, including a £540 million reduction in TSUK's debt and a Rs 3,300 crore decrease in consolidated gross debt quarter-on-quarter.

(With inputs from agencies.)