INSUBCONTINENT EXCLUSIVE:
Tata Steel's third quarter net profit has more than doubled owing to higher incomeNew Delhi: Tata Steel has said that its consolidated net
informed through a regulatory filing that it had registered a net profit of Rs 4,010.94 crore in the corresponding period of last year.The
company's total income during the October-December quarter also jumped to Rs 60,842.72 crore, from Rs 42,152.87 crore in the corresponding
during the quarter, from 7.74 million tonnes in the year ago period
earlier.Tata Steel CEO and managing director T V Narendran said that domestic steel demand has begun to improve on the back of continued
economic recovery as the third wave of Covid-19 begins to ebb.The company's steel deliveries in India expanded by 4 per cent in the first
chosen segments and our performance in key segments such as auto was robust despite the sector being impacted by the semiconductor shortage
Our European operations continue to perform underpinned by strong improvement in realisations," he said
significantly ramp up its long products portfolio and benefit from the growth in infrastructure in the country and retail housing growth in
semi-urban India, Mr Narendran noted further.
