Tata Steel Q2 Results: Company reports profit of Rs 833 crore vs Rs 6,196 crore loss a year ago

Tata Steel Ltd on Wednesday reported a net profit of Rs 833 crore in the quarter ended September 2024, compared with a loss of Rs 6196 crore in the last year quarter.

Revenue from operations in the reporting period fell 3% year-on-year to Rs 53,905 crore.

The company reported an EBITDA of Rs 6,141 crore during the July-September 2024 period while margins stood at Rs 11.4%.

Total expenses during the second quarter reduced to Rs 52,332 crore. The same stood at Rs 55,853 crore in the corresponding quarter of previous year.

Tata Steel India business reported a revenue decline of 5% YoY to Rs 32,399 crore in the September quarter as against Rs 34197 crore in the year-ago quarter.

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Revenue from the Neelachal Ispat Nigam Ltd (NINL) business rose to Rs 1348 crore in the quarter ended September 2024. It was Rs 1283 crore in the last year quarter.The Board has also approved the appointment of Pramod Agrawal as an Additional Director (Non-Executive, Independent) effective November 6 and as an Independent Director for a term of 5 years.

On Wednesday, Tata Steel shares closed 1% higher at Rs 153.81 on NSE.

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