Tata Steel consol Q3 PAT at Rs 3,698 cr vs Rs 1,029 cr loss a year ago

Higher revenue, lower expenses push up bottomline which was ahead of estimates

Tata Steel, the country’s oldest steel producer, reported a consolidated net profit of Rs 3,698 crore in the December quarter as against a loss of Rs 1,029 crore in the corresponding period last year on the back of increased revenue, which was aided by both higher steel prices and volumes. The profit was ahead of consensus estimate of Rs 3,353 crore, according to Bloomberg, mainly led by the India operations.

The company’s net sales in the period under review stood at Rs 38,806 crore, up 12 percent from same period last year on improved demand for steel in the domestic