Tata Steel Shines with Doubling Profits Amid Strategic Moves

Tata Steel has reported an impressive over twofold increase in its consolidated net profit, reaching Rs 1,200.88 crore for the March quarter, attributed primarily to higher income levels. This marks a substantial rise from the Rs 554.56 crore posted during the same period of the previous fiscal year, according to the company's latest exchange filing.

Despite a decline in total income to Rs 56,679.11 crore, down from Rs 58,863.22 crore in the corresponding quarter last year, Tata Steel effectively managed to reduce its expenses to Rs 54,167.61 crore. These strategic cost-cutting measures helped drive its net profit for FY25 to Rs 3,173.78 crore, a significant turnaround from the reported loss of Rs 4,909.61 crore in the prior financial year.

In addition, Tata Steel's board has approved a dividend of Rs 3.60 per ordinary share and plans to invest up to USD 2.5 billion in its wholly-owned foreign subsidiary, T Steel Holdings Pte Ltd, demonstrating its strategic focus on global expansion and shareholder returns.

(With inputs from agencies.)