Net Profit Stands At Rs 3,989 Crore Beating Estimates, Revenue Rises 11%

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.