In the July-September quarter of the current financial year, Tata Steel’s consolidated net profit registered a tremendous increase. The consolidated net profit of the company in the second quarter of the last financial year was Rs 1,665.07 crore. But in the second quarter of the current financial year, it increased to Rs 12747.70 crore. The company’s income increased to Rs 60,553.63 crore for the quarter ended September, 2021 from Rs 39,157.79 crore during the same quarter a year ago. The company’s total expenses during the quarter stood at Rs 47,135.28 crore, up from Rs 37,000.28 crore in the year-ago period.
Tata Steel said the company’s performance despite weak demand
T V Raveendran, CEO and Managing Director, Tata Steel said that the company has performed well in all major geographies. Despite the weak season, the company’s deliveries in India increased by 11 per cent. However, during this period there was a decrease in demand in the world market. The company said it has acquired NatSteel Holdings Pte. We have achieved our target of 100% investment in Singapore. Due to this the company earned Rs 720 crore.
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Tata Steel approves the merger of BSL with Tata Steel
The merger of Tata Steel BSL with Tata Steel has also got the approval of NCLT. Tata Steel is one of the top steel companies in the world. Tata Steel produces 33 million tonnes of crude steel every year.
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