Tata Steel's Profits Surges Amid Strategic Funding Move
Tata Steel has significantly increased its net profit to Rs 1,200.88 crore in the latest quarter due to higher income. Despite a previous fiscal loss, they recorded a profit of Rs 3,173.78 crore for FY25. The board approved a dividend and strategic funding for TSHP, its foreign subsidiary.
- Country:
- India
Tata Steel witnessed a robust financial performance in the March quarter, with net profits soaring to Rs 1,200.88 crore, more than double the previous year. This rise is attributed to increased income, as detailed in their latest exchange filing.
The steel giant's total income fell marginally to Rs 56,679.11 crore from Rs 58,863.22 crore in the same quarter a year ago. On a positive note, they reduced their overall expenses to Rs 54,167.61 crore, enhancing profitability.
In addition to its domestic success, Tata Steel's board has proposed a strategic investment in its Singapore-based subsidiary, T Steel Holdings Pte Ltd. The infusion of up to USD 2.5 billion will allow for broader international ventures.
(With inputs from agencies.)
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