Tata Steel Q2 consolidated net profit at Rs 31.16 bn, up three folds YoY

India operations report EBITDA/tonne of Rs 19,000, highest in six years

Tata Steel, the country’s oldest steel producer, on Tuesday reported a higher-than-expected consolidated net profit of Rs 31.16 billion in the September quarter, up threefold from the corresponding period last year on the back of increased revenues, which also included the recently acquired Bhushan Steel.

The company had reported a bottom line of Rs 10.18 billion in the year-ago period. Its net sales stood at Rs 429.46 billion, up 34 per cent from the same period last year on better realisations and increased volumes, with Bhushan Steel contributing full quarter for the first time since acquisition.

According to Bloomberg estimates, the company’s