Results: Tata Steel posts Rs 4,010 crore profit in October-December quarter
Tata Steel swung back into black in the October-December quarter posting a consolidated profit of Rs 4,010.94 crore for the quarter on the back of increased income.
The company had clocked a loss of Rs 1,228.53 crore in the year ago quarter, Tata Steel said in a BSE filing on Tuesday.
The company s total income rose to Rs 39,809.05 crore in the third quarter of 2020-21 from Rs 35,613.34 crore in the year-ago period. Its expenses were at Rs 34,183.18 crore, lower from Rs 35,849.92 crore in October-December 2019-20.
In a statement, the company said it produced 4.60 million tonne of crude steel during the third quarter, registering a 3 per cent rise over the year ago quarter. Sales in the domestic market rose by 4 per cent to 4.16 MT compared to the year-ago period.