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Tata Steel’s net profit up 661% in July-September

India’s Tata Steel Limited has reported a consolidated net profit of INR 119.18 billion ($1.6 billion) in the second quarter (July-September) of the fiscal year 2021-22, up 661.3 percent over the corresponding period of the previous year, according to a company statement.

The company reported total revenue of INR 602.83 billion ($8.1 billion) during the quarter, a growth of 54.8 percent.

Tata Steel’s consolidated operating profit per mt surged 246 percent on year-on-year basis to INR 24,112 ($324/mt), supported by price increases effected during the quarter.

“Tata Steel has delivered strong results across key geographies in this seasonally weaker quarter. Our steel deliveries in India expanded by 11 percent despite a contraction in market demand which is a testament to the strength of our franchise,” said T.V. Narendran, chief executive officer and managing director at Tata Steel.

“We are watchful of the elevated coal prices and high energy costs as key risks to margins going forward,” he said.

 

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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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