Tata Steel Q3 profit up 54% to Rs 1,753 cr on the back of higher revenues

Tata Steel's consolidated gross debt has declined by Rs 9,083 crore during the quarter

Tata Steel on Friday reported a lower-than-expected consolidated net profit of Rs 1,753 crore for December quarter, up 54 per cent from the same period the previous year, on the back of higher revenues. 

Net sales of the company were at Rs 40,457 crore in the December quarter, a 22 per cent increase from the year-ago period as Tata Steel continued to increase its market share in chosen segments. The consolidated steel production of the company grew 11 per cent year-on-year to 7.23 million tonne and deliveries increased 7 per cent to 6.99 million tonne.

Tata Steel’s India revenues (including