Tata Steel posted a 43.41pct YoY decline in consolidated net profit after tax, falling to INR 295 crore (USD 34.1 mln) in Q3 FY25, ending December 31, 2024, compared to INR 522 crore in the same period last year. Revenue from operations decreased by 3pct YoY to INR 53,648 crore (USD 6.2 bln).
Despite the financial decline, the company’s consolidated steel production rose 2.51pct YoY to 7.77 mln tons, while deliveries grew 7.8pct to 7.72 mln tons during the quarter.
T.V. Narendran, CEO & Managing Director, attributed the global pressure on steel prices, including in India, to China’s high steel exports, which averaged 9 mln tons per month in 2024.
Tata Steel’s expansion plans in Kalinganagar remain on track. The new blast furnace produced 0.56 mln tons during the quarter and is ramping up to full capacity. Additionally, the Continuous Annealing Line (CAL) within the 2.2 mln tons per annum CRM complex was commissioned in December. The CAL has already secured facility approvals from major automotive OEMs, Narendran noted.
1 USD / 86.3 INR
