Gross debt in the September quarter stood at Rs 87,516 crore compared with Rs 82,597 crore in the June quarter
Tata Steel reported a consolidated net profit at Rs 1,514.42 crore in July to September quarter (Q2FY23), down by 87.3 per cent, on the back of declining margins. In the year-ago period, net profit was at Rs 11,918.11 crore.
Revenues from operations at Rs 59,877.52 crore was marginally down from Rs 60,387.13 crore in the year-ago period. While revenues came in higher than expectations, profits fell short of estimates. A Bloomberg consensus estimate pegged revenues at Rs 56,321.5 crore and net income at Rs 3,154.7 crore.
Sequentially, revenues were down 5.6 per cent and net profit by 80.49 per cent.
First Published: Oct 31 2022 | 9:16 PM IST