Tata Steel back in black, net at Rs 759cr

NEW DELHI: Tata Steel on Wednesday reported a

net profit

of Rs 759 crore for Sept 2024 quarter, helped by lower expenses. It had posted a

net loss

of Rs 6,511 crore in July-Sept of 2023-24 fiscal, the company said in an exchange filing. The company’s total income fell to Rs 54,503 crore in second quarter against Rs 55,910 crore in the same period a year ago.
Tata Steel reduced expenses to Rs 52,332 crore from Rs 55,853 crore in year-ago quarter. In a separate statement, Tata Steel CEO and MD TV Narendran said global operating environment remained complex, with key regions facing subdued growth.

Macroeconomic conditions

in China continued to weigh on commodity prices, including steel. agencies