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Informist, Thursday, Jul. 30, 2026

By Astha Oriel 

NEW DELHI – Tata Steel Ltd. Thursday reported a moderate year-on-year rise in its consolidated bottom line for the June quarter as the total expenses grew slower than the revenue from operations. The company's net profit was hit by a one-time cost, thus missing the Street's view. The company's on-year consolidated net profit growth was the slowest in six quarters.

A considerable year-on-year increase in sales across India operations lifted the company's revenue for the three months. The company's revenue from operations grew at the fastest on-year pace in four quarters, beating analysts' estimates by a comfortable margin. 

The company's consolidated net profit grew nearly 12% on year, but declined almost 21% sequentially to INR 23.18 billion. The company incurred a net one-time cost of INR 3.45 billion for the quarter. In the absence of this one-time cost, the company's bottom line would have been higher than analysts' consensus estimate of INR 24.44 billion.

The company's revenue from operations grew over 14% on year, but declined nearly 4% sequentially to INR 607.94 billion, and was above the Street's expectation of INR 588.02 billion.

The company's total income grew over 14% on year to INR 610.27 billion, the fastest in four quarters. The total expenses grew over 13% on year to INR 569.40 billion, the fastest in four quarters. The company's other expenses, which accounted for over 37% of the total expenses, grew nearly 15% on year to INR 213.50 billion. The cost of materials consumed, which accounted for over 35% of the total expenses, grew almost 12% on year to INR 201.86 billion. The expenses related to employee benefits grew nearly 10% on year to INR 72.26 billion, and those related to purchases of stock-in-trade grew over 31% on year to INR 51.82 billion. 

The company's expenses related to depreciation and amortisation grew nearly 33% on year to INR 36.40 billion. However, the company's finance costs declined over 4% on year to INR 17.71 billion. The company also gained from the change in inventories of finished goods, and semi-finished goods, stock-in-trade and work in progress worth INR 24.14 billion. 

For its India operations, the consolidated revenue was INR 368.97 billion, as against INR 310.14 billion in the year-ago quarter. The revenue from Neelanchal Ispat Nigam Ltd. grew to INR 17.12 billion from INR 9.27 billion in the year-ago quarter. The revenue from Tata Steel Netherlands Operations was INR 158.03 billion, as against INR 146.19 billion in the year-ago quarter. The revenue from Tata Steel UK operations was INR 61.15 billion, remaining largely unchanged from INR 61 billion in the year-ago quarter.

The company's consolidated net profit margin expanded to 3.92% from 3.77%. The company's consolidated production volumes for the June quarter grew to 7.69 million tonnes from 7.33 million tonnes in the year-ago quarter. The company's consolidated delivery volumes grew to 7.27 million tonnes from 7.12 million tonnes in the quarter year-ago.

For its India operations, the production volumes increased to 5.76 million tonnes from 5.23 million tonnes in the year-ago quarter. The delivery volumes for Indian business grew to 5.17 million tonnes from 4.75 million tonnes in the year-ago quarter. The liquid steel production from the Netherlands business, however, declined to 1.55 million tonnes from 1.70 million tonnes. The delivery volumes from the Netherlands business was 1.40 million tonnes as against 1.50 million tonnes in the year-ago quarter.  

The company's consolidated earnings before interest, tax, depreciation, and amortisation grew over 25% on year to INR 93.70 billion as against INR 74.80 billion in the year-ago quarter. The company's consolidated EBITDA per tonne was INR 12,898 as against INR 10,503 in the year-ago quarter. The company's consolidated operating EBITDA margin grew to 15.41% from 14.07% in the year-ago quarter. 

For its India operations, the EBITDA for the June quarter grew to INR 99.08 billion from INR 74.86 billion in the year-ago period. The India operations' EBITDA per tonne grew to INR 19,162 from INR 15,760 in the year-ago quarter.   

The EBITDA from Netherlands operations declined to INR 390 million, as against INR 6.11 billion in the year-ago quarter. The EBITDA per tonne from Netherlands operations declined to INR 279 from INR 4,074. 

For its UK business, the June quarter EBITDA loss was INR 341 million as against INR 471 million in the year-ago quarter. The EBITDA per tonne loss was INR 7,071 as against INR 7,829 in the year-ago quarter. As on Jun. 30, the company's net debt increased to INR 841.73 billion from 801.44 billion on Mar. 31. The company's board has approved plan to raise Neelachal Ispat Nigam's capacity by 4.8 million tonnes per annum at an estimated capital expenditure of INR 338.73 billion. "This will enable Tata Steel to further expand the long products portfolio especially in the retail space where our branded products are in high demand," the company said in a statement.

The company announced June quarter earnings after market hours. Thursday, shares of the company closed 0.2% lower at INR 186.92 on the National Stock Exchange. End

Edited by Deepshikha Bhardwaj

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