NEW DELHI, Feb 6 : Tata Steel on Friday said its consolidated profit jumped manifold to Rs 2,730.37 crore in the December quarter, citing increased revenues across operations except the UK, where the company is in transition towards low-cost steel manufacturing.
It registered a profit of Rs 295.49 crore in the October-December period of the preceding 2024-25 financial year, the company said in an exchange filing.
The company’s total income rose to Rs 57,503.49 crore during the quarter from Rs 53,869.33 crore in the year-ago period.
Sharing a breakup of the revenue numbers, the company said Tata Steel India and Neelachal Ispat Nigam have earned a revenue of Rs 37,141.51 crore, higher from Rs 34,218.73 crore in Q3FY25.
From the Netherlands, the company logged a revenue of Rs 14,001.22 crore, compared to Rs 13,862.92 crore a year ago, while in South East Asian operations, the figure was Rs 1,906.10 crore compared to Rs 1,777.23 crore in Q3 FY25.
Tata Steel UK has registered a revenue of Rs 5,535.64 crore, down from Rs 5,664.89 crore in October-December FY25.
The company has spent Rs 3,291 crore on capital expenditure during the reporting quarter, and Rs 10,370 crore during the nine months of FY26. Net debt declined by Rs 5,206 crore QoQ to Rs 81,834 crore.
In a statement, T V Narendran, Tata Steel Chief Executive Officer and Managing Director, said, “Our global operating environment continues to be shaped by tariffs, geopolitical shifts and policy divergence. Steel markets were impacted by elevated finished steel exports from China, which, at 119 million tonnes, surpassed the 2015 peak.”
Against this backdrop, Tata Steel delivered a strong performance in this quarter, with India’s crude steel production rising 12 per cent, while deliveries grew faster at 14 per cent YoY, surpassing the 6 million tonne-mark in a quarter for the first time.
“In our overseas operations, deliveries stood at 0.52 million tonnes in the UK and 1.40 million tonnes in the Netherlands. Supportive policy frameworks are vital to transition to a more sustainable operating model. While the recent progress in Europe has supported sentiment, the UK market continues to be depressed, and the quota framework needs to be revised to reflect underlying market conditions,” he said.
On the EU’s carbon tax framework CBAM, the company’s Executive Director and Chief Financial Officer, Koushik Chatterjee, said that the UK market conditions continue to be pressured by subdued demand, while policy interventions are taking longer than anticipated to materialise.
“We are closely monitoring the situation and the evolving tariff framework and CBAM in EU, which are pivotal for rebalancing EU market dynamics. We remain focused on prioritising, optimising and sequencing our capital allocation to balance investment needs with returns, while maintaining financial discipline and long-term value creation for stakeholders,” he said.
Tata Steel group is among the country’s top global steel companies with an annual crude steel capacity of 35 million tonnes per annum. (PTI)
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