Tata Steel Q2: Steelmaker Returns To Profit At Rs 833 Crore, Revenue Dips

The firm’s revenue from operations slipped 3 per cent to Rs 53,489.73 crore in the quarter under review, as compared to Rs 55,107.21 crore logged in the September quarter in the previous fiscal year

The firm clocked an EBITDA of Rs 6,141 crore in the quarter under review.

Source : Tata Steel

Tata Steel Ltd on Wednesday announced its financial results for the July-September quarter in the 2024-25 fiscal year (FY25). The company managed to return back to profitability with a net profit of Rs 833.45 crore in the second quarter in the current fiscal year.

In comparison, the firm incurred a loss of Rs 6,196.24 crore in the corresponding quarter in the preceding 2023-24 fiscal year (FY24), reported Livemint. The firm’s revenue from operations slipped 3 per cent to Rs 53,489.73 crore in the quarter under review, as compared to Rs 55,107.21 crore logged in the September quarter in the previous fiscal year.

The steelmaker clocked expenses at Rs 52,331.58 crore in the quarter ended September 30, 2024, declining 6.3 per cent from Rs 55,853.35 crore reported in the same quarter a year earlier. These expenses were driven by the reduction in other expenses, the official filings of the company revealed.

Segment wise, the company’s business revenues dipped 5.25 per cent in the July-September period to rs 32,399.48 crore, while the revenue for the segment stood at Rs 34,197.76 crore in the same period last year.

The Europe operations of the steelmaker accounted for the second-largest revenue source, following the firm’s domestic steel business in India. The firm clocked an EBITDA of Rs 6,141 crore in the quarter under review.

The firm named Pramod Agrwala to its board of directors, effective from November 6. Sharing the same, the firm said, “The board of the company considered and unanimously approved the appointment of Mr. Pramod Agrawal (DIN: 00279727) as an additional director (Non-Executive, Independent) effective November 6, 2024 and as an Independent Director of the Company for a term of 5 years effective November 6, 2024 through November 5, 2029, subject to the approval of the shareholders of the company.”