Tata Steel Limited posted a net profit of Rs 3,989 Crore in the third quarter of the current financial year as compared to a net loss of Rs ₹1,228.53 crore in the year-ago period, tracking strong performance in the country’s business. The company’s revenue rose 11 per cent year-on-year to Rs 39,594 crore for the October-December quarter under review. According to the company’s regulatory filing on the BSE, it witnessed the highest-ever quarterly consolidated operating profit of Rs 9,540 crore during the third quarter of the financial year. Tata Steel’s India business achieved the highest ever quarterly EBITDA of ₹8,811 crores, driven by higher prices, better product mix, lower exports and operating efficiency initiatives, said the company in its statement.
During the December quarter of the current fiscal, the company’s total income rose to Rs 39,809.05 crore from Rs 35,613.34 crore a year ago. Its expenses were at Rs 34,183.18 crore, lower from Rs 35,849.92 crore in the corresponding quarter of 2019-20.
At 4:00 pm on Tuesday, February 9, shares of Tata Steel settled 0.48 per cent lower at Rs 699.95 apiece on the BSE.