Tata Steel Q2 results: PAT rises eight-fold to Rs 11,918 crore

Tata Steel, the country’s oldest steel producer, has reported a consolidated net profit at Rs 11,918 crore in the September quarter, up nearly eightfold or 661 per cent from the corresponding period last year.

The company is looking to deleverage around Rs 12,000 crore this year, depending on cash flows. It had deleveraged Rs 11,800 crore last year.

Sequentially, the net profit was up 34 per cent in the period as net sales increased on the back of higher deliveries in the Indian market. Besides, revenues from India operations got a boost from higher steel prices.

Net sales of the company in the