Tata Steel Q1 consolidated PAT at Rs 8,907 cr vs loss of Rs 4,416 cr YoY

Tata Steel, the country’s oldest steel producer, reported a consolidated net profit of Rs 8,907 crore in June quarter as against a loss of Rs 4,416 crore in the corresponding period last year on the back of increased revenue in Q1’FY22 and low base on account of Covid-19’s first wave last year.

Led by strong steel prices, top line or total revenue from operations in the period under review stood at Rs 53,372 crore, up 108 per cent from the same period last year, as both India and Europe operations contributed sizeably.

Steel deliveries at Tata Steel Europe increased by