Tata Steel’s consolidated net profit posted a three-fold increase in the September quarter to ₹3,116 crore against ₹1,018 crore logged in the same period last year, on the back of higher realisation.

Its revenue from operations was up 34 per cent at ₹43,544 crore (₹32,464 crore).

Consolidated Ebitda increased to ₹9,000 crore against ₹4,664 crore recorded in the same period last financial year, while the Ebitda per tonne was at ₹12,131.

The company’s gross debt increased by ₹2,065 crore due to adverse forex impact of ₹3,528 crore. Its net debt was flat at about ₹1,04,202 crore.

Production in the quarter was up at 7.26 million tonne (6.41 mt), while sales were at 7.42 mt (6.45 mt).

On a standalone basis, its net profit more than doubled to ₹3,268 crore (₹1,294 crore). Turnover was up at ₹17,902 crore (₹14,221 crore) on higher volume and better realisation. Ebitda was up at ₹6,113 crore (₹3,408 crore).

Bhushan Steel

Sales at Bhushan Steel, acquired recently through an insolvency process, were up 34 per cent at 1.14 million tonnes. Its revenue increased to ₹5,862 crore against ₹4,624 crore logged in June quarter. TV Narendran, Managing Director, Tata Steel, said the company has managed to sell 4.32 million tonnes of steel in India despite September being a seasonally weaker period.

ThyssenKrupp operations

On the merger with ThyssenKrupp joint venture, he said the discussions with the European Commission has entered phase-II review which takes about 90 days to complete.

Shares of the company were up by 1.07 per cent at ₹589 on Tuesday.

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