On a consolidated basis, Tata Steel Long Products posted a 2.4% decline in net profit to Rs 331.6 crore on 9% rise in net sales to Rs 1687.64 crore in Q1 FY22 over Q4 FY21.
The steel maker posted a net loss of Rs 131.3 crore in Q1 FY21. Net sales soared 158% in Q1 FY22 over Q1 FY21.The company posted a profit before tax of Rs 444 crore in Q1 FY22 compared with pre-tax loss of Rs 130 crore in Q1 FY21.
Shares of Tata Steel Long Products were up 0.12% at Rs 1,120 on BSE.
Tata Steel Long Products is one of India's largest merchant sponge iron manufacturers. The company is engaged in the production of sponge iron by direct reduction method of iron ore and power generation from waste heat.
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