Tata Steel's Fiscal Triumph: Doubling Profits Amid Challenges

Tata Steel has reported a substantial increase in its consolidated net profit, soaring to Rs 1,200.88 crore for the March quarter, driven by augmented volumes and lowered controllable costs despite reduced realisations.

The company's total income decreased to Rs 56,679.11 crore, down from Rs 58,863.22 crore in the previous year. Nonetheless, Tata Steel managed to cut expenses significantly, reducing them to Rs 54,167.61 crore from Rs 56,496.33 crore.

The fiscal year saw a net profit of Rs 3,173.78 crore, marking a significant recovery from a loss of Rs 4,909.61 crore in the prior year. The board recommended a Rs 3.60 per share dividend and approved a USD 2.5 billion investment into T Steel Holdings Pte Ltd, enhancing their footprint and capacity.

(With inputs from agencies.)