Tata Steel Q1 consolidated net profit at Rs 702 crore, down 64% YoY

India operations hit on fall in realisations, weakness in auto sector

Tata Steel on Wednesday reported a lower-than-expected consolidated net profit of Rs 702 crore in the April-June quarter. This was down 64 per cent for the same period last year, even as its India operations took a hit.

The company’s consolidated top line in the period under review stood at Rs 35,382 crore, against Rs 35,106 crore last year — almost flat on a year-on-year (YoY) basis.

According to Bloomberg estimates, Tata Steel’s consolidated bottom line was seen at Rs 1,554 crore in the June quarter, while revenue was expected to be at Rs 37,279 crore.

During the quarter,