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HomeMarketResultsTata Steel Q2 net profit plunges 90% to Rs 1,297 crore on...

Tata Steel Q2 net profit plunges 90% to Rs 1,297 crore on higher expenses



Domestic steel giant on Monday reported a nearly 90 per cent drop in consolidated net profit to Rs 1,297 crore for the July-September quarter of 2023-23, dragged by higher expenses.


The company’s net profit stood at Rs 12,547.70 crore in the corresponding period of the previous financial year, said in a BSE filing.


Its total income during July-September 2022 stood at Rs 60,206.78 crore as against Rs 60,657.98 crore in the year-ago period.


The firm’s total expenses rose to Rs 57,684.09 crore from Rs 47,239.63 crore earlier.


Homegrown is among the top steel producers in the world.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)



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