Tata Steel on Wednesday reported a consolidated net profit of ₹833.45 crore during the quarter ended September (Q2FY25), aided by lower expenses. In the year-ago period, the company posted a net loss of ₹6,196.24 crore, largely on account of impairment charges and restructuring costs in the UK.
Total revenue, on a consolidated basis in Q2FY25 at ₹53,904.71 crore, was down 3.2 percent year-on-year (Y-o-Y).
Both revenue and net profit came in ahead of the Bloomberg consensus estimates at ₹53,104.3 crore and ₹451.7 crore, respectively.
Sequentially, revenue was down 1.6 percent, primarily due to lower realisations in India and the Netherlands. Net profit was down 13.1 percent quarter-on-quarter (Q-o-Q).
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