Tata Steel announces 37% increase in consolidated net profit in Q3
New Delhi:
Tata Steel on Tuesday posted 37% increase in consolidated net profit at Rs 9,835.12 for the quarter ended March 2022, mainly due to higher earnings.
The steel group reported a net profit of Rs 7,161.91 crore in the previous quarter, it said in a BSE filing.
During January-March 2022, Tata Steel’s total earnings increased to Rs 69,615.70 from Rs 50,300.55 previously.
The total cost has increased to Rs 57,635.79 from Rs 40,102.97 for the January-March 2020-21 period.
“Tata Steel has once again demonstrated its ability to deliver excellent results despite the increasing complexity of the face of COVID as well as geopolitical tensions,” said CEO and CEO of Tata Steel. TV company Narendran said.
India’s business activity shows growth across the board, he added. The European operations have been strong as a result of the transformation program implemented which has helped foster a strong business environment.
At the operating level, earnings before interest, taxes, depreciation and amortization (EBITDA) increased 6% to Rs 15,174 crore with EBITDA per ton up 3.7% to Rs 18,937 year-on-year, Tata Steel said in the filing.
