Tata Steel reports a consolidated net profit of Rs 759 crore for the quarter ended September 30, 2024
Mumbai, prabaha tv : Tata Steel today reported its financial results for the quarter ended September 30, 2024. For the first half of FY25, Tata Steel reported consolidated revenues of ₹1,08,676 crores. EBITDA improved by 25% year-on-year to Rs 13,046 crores with an EBITDA margin of 12%.
In the July-September 2024 quarter, the company posted consolidated revenues of Rs 53,905 crores and an EBITDA of Rs 6,224 crores, with an EBITDA margin of around 12%.
Tata Steel spent Rs 4,806 crores on capital expenditure during the quarter and Rs 8,583 crores for the half-year.
The company’s net debt stands at Rs 88,817 crores and group liquidity remains strong at Rs 26,028 crores, which includes cash & cash equivalents of Rs 10,575 crores.
Revenues from Tata Steel’s India operations for the quarter were Rs 32,660 crores, with an EBITDA of Rs 6,912 crores and an EBITDA margin of 21%. Crude steel production in India increased by 5% year-on-year to 5.28 million tons, while deliveries rose to 5.11 million tons, driven by a 6% increase in domestic demand. For the half-year, revenues were Rs 65,853 crores and EBITDA was Rs 13,946 crores.
In September 2024, Tata Steel successfully commissioned India’s largest blast furnace at Kalinganagar. With ramp up of Kalinganagar facilities, India crude steel capacity will increase to 26.6 MTPA.
In UK, the remaining blast furnace at Port Talbot was closed to pave the way for next generation of green steelmaking. During the quarter, revenues were £600 million and Liquid steel production was 0.39 million tons while deliveries were 0.63 million tons.On half year basis, Revenues were £1,246 million.
Netherlands revenues were £1,300 million and EBITDA for the quarter was £22 million. Liquid steel production at 1.66 million tons and deliveries at 1.50 million tons, were up on year-on-year basis. On half year basis, Revenues were £2,644 million and EBITDA was £65 million.
