India’s Tata Steel increased September-quarter consolidated profit by 16.2%, with deliveries in its Indian business rising from the preceding quarter. Group revenue reached 654.36 billion rupees. Indian operations supplied most of the group’s operating earnings, while the UK business continued to record a loss before interest, tax, depreciation and amortisation.
Tata Steel, the Indian steel producer, expanded deliveries in its home market to 5.98 million tonnes in July–September, up 16% from the preceding quarter. Indian crude-steel output increased 7% to 6.18 million tonnes. That business generated 426.53 billion rupees in revenue and 106.34 billion rupees in earnings before interest, tax, depreciation and amortisation, or EBITDA. Its EBITDA margin was 25%.[1], [2]
Across the group, quarterly net profit rose 16.2% to 37.00 billion rupees, while revenue grew 11.5% to 654.36 billion rupees. The Netherlands operation earned EBITDA of 72 million euros on revenue of 1,395 million euros after its direct-sheet plant restarted in August. In the UK, revenue was 411 million pounds and the EBITDA loss was 56 million pounds; deliveries there totalled 380,000 tonnes.[1]
Quarterly capital spending amounted to 32.80 billion rupees, bringing first-half expenditure to 68.60 billion rupees. At period-end, net debt was 914.23 billion rupees, equivalent to 2.4 times EBITDA. Group liquidity totalled 400.76 billion rupees, including 103 billion rupees of cash and cash equivalents. Over the first half, consolidated revenue was 1,262.31 billion rupees and EBITDA increased 21% from a year earlier to 200.35 billion rupees.[1], [2]
