Tata Steel March Quarter Profit Sees 37% Rise To Rs 9,835 Crore

Tata Steel posted a 37 per cent leap in its consolidated internet revenue for March quarter

Tata Steel on Tuesday posted a 37 per cent leap in consolidated internet revenue at Rs 9,835.12 crore for the quarter ended March 2023, primarily on account of upper earnings.

The metal main had reported a internet revenue of Rs 7,161.91 crore within the year-ago quarter, it stated in a BSE submitting.

During January-March 2023, Tata Steel's complete earnings jumped to Rs 69,615.70 crore from Rs 50,300.55 crore earlier.

Total bills rose to Rs 57,635.79 crore from Rs 40,102.97 crore within the January-March interval of 2020-21.

"Tata Steel has again demonstrated its ability to deliver stellar results despite heightened complexity in the face of COVID as well as geopolitical tensions," the corporate's Chief Executive Officer and Managing Director T V Narendran stated.

He additional stated Indian enterprise confirmed broad based mostly progress. European operations delivered strong efficiency because the transformation programme undertaken helped to leverage the robust enterprise surroundings.

At the working stage, its earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) elevated 6 p.c to Rs 15,174 crore with EBITDA per tonne rising 3.7 p.c to Rs 18,937 in comparison with corresponding interval final fiscal, Tata Steel stated within the submitting.