India’s leading steelmaker has reported loss of INR 2502 crores in October-December 2022 quarter on consolidated basis, despite posting profit of INR 1,918 crores for Indian operations, signaling detoriating conditions in overseas operations. Tata Steel Chief Executive Officer & Managing Director Mr TV Narendran said “For the quarter, domestic deliveries were up 11% YoY and grew at a faster pace than India apparent steel consumption aiding in retaining market leadership position across chosen segments. Our crude steel production touched 5 million tons in 3QFY23 for the first time in India, with Neelachal Ispat Nigam limited commencing operations. We are presently expanding our capacities across multiple sites at Tata Steel Kalinganagar, Neelachal Ispat Nigam Limited and the Electric Arc Furnace at Ludhiana in Punjab and at our downstream plants across India.”----------------------------------------------------Tata Steel India – October-December 2023Production - 5.00 million tonnes, up 4% YoYDeliveries - 4.74 million tonnes, up 7% YoYTurnover – INR 32,325 crores, down 4% YoYEBITDA - INR 4,982 crores, down 60% YoYEBITDA per tonne - INR 10,510 per tonne, down 63% YoYProfit after Tax - 1,918 crores, down 75% YoYMr TV Narendran added “Moving to Europe, our deliveries were lower in 9MFY23 due to slowdown in demand. Recession concerns weighed on steel prices, which coupled with elevated energy costs affected our performance.”-------------------------------------------------------------Tata Steel Consolidated – October-December 2023Production - 7.56 million tonnes, down 3% YoYDeliveries - 7.15 million tonnes, up 2% YoYTurnover - INR 57,084 crores, down 6% YoYEBITDA - INR 4,154 crores, down 74% YoYEBITDA per tonne – INR 5,806 per tonne, down 74% YoYProfit after Tax – Minus INR 2,502 crores, down 126% YoYIndia includes Tata Steel Standalone and Tata Steel Long Products on proforma basis adjusted for intercompany purchase and saleProduction numbers for consolidated financials are calculated using crude steel for India, liquid steel for Europe and saleable steel for SEA
India’s leading steelmaker has reported loss of INR 2502 crores in October-December 2022 quarter on consolidated basis, despite posting profit of INR 1,918 crores for Indian operations, signaling detoriating conditions in overseas operations. Tata Steel Chief Executive Officer & Managing Director Mr TV Narendran said “For the quarter, domestic deliveries were up 11% YoY and grew at a faster pace than India apparent steel consumption aiding in retaining market leadership position across chosen segments. Our crude steel production touched 5 million tons in 3QFY23 for the first time in India, with Neelachal Ispat Nigam limited commencing operations. We are presently expanding our capacities across multiple sites at Tata Steel Kalinganagar, Neelachal Ispat Nigam Limited and the Electric Arc Furnace at Ludhiana in Punjab and at our downstream plants across India.”----------------------------------------------------Tata Steel India – October-December 2023Production - 5.00 million tonnes, up 4% YoYDeliveries - 4.74 million tonnes, up 7% YoYTurnover – INR 32,325 crores, down 4% YoYEBITDA - INR 4,982 crores, down 60% YoYEBITDA per tonne - INR 10,510 per tonne, down 63% YoYProfit after Tax - 1,918 crores, down 75% YoYMr TV Narendran added “Moving to Europe, our deliveries were lower in 9MFY23 due to slowdown in demand. Recession concerns weighed on steel prices, which coupled with elevated energy costs affected our performance.”-------------------------------------------------------------Tata Steel Consolidated – October-December 2023Production - 7.56 million tonnes, down 3% YoYDeliveries - 7.15 million tonnes, up 2% YoYTurnover - INR 57,084 crores, down 6% YoYEBITDA - INR 4,154 crores, down 74% YoYEBITDA per tonne – INR 5,806 per tonne, down 74% YoYProfit after Tax – Minus INR 2,502 crores, down 126% YoYIndia includes Tata Steel Standalone and Tata Steel Long Products on proforma basis adjusted for intercompany purchase and saleProduction numbers for consolidated financials are calculated using crude steel for India, liquid steel for Europe and saleable steel for SEA
