Tata Steel Q3 net profit surges 139% to Rs 9,598 cr, revenue rises 45%

Tata Steel said it is conducting trials to inject Coal Bed Methane gas into a blast furnace to reduce coke consumption during steelmaking

Steel major Tata Steel on Friday reported 139% jump in consolidated net profit at Rs 9,598 crore for the quarter ending December 31, 2021. The steelmaker reported consolidated net profit of Rs 4,011 crore in the year-ago period.

The company's expenses rose to Rs 48,666.02 crore from Rs 36,494.91 crore.

Consolidated free cash flow was Rs 6,338 crore during 3QFY22 despite an increase in working capital of Rs 2,045 crore, said the company. Consolidated revenue surged 45% to Rs 60,783 crore as against Rs 41,935 crore a year ago.

T V Narendran, Chief Executive Officer & Managing Director, said: “India steel demand has