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Informist, Friday, Feb. 6, 2026

 

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--Tata Steel Oct-Dec consol net profit INR 26.89 bln 
--Analysts saw Tata Steel Oct-Dec consol net profit at INR 24.32 bln 
--Tata Steel Oct-Dec consol revenue INR 570.02 bln 
--Analysts saw Tata Steel Oct-Dec consol revenue INR 577.12 bln 
--Tata Steel Oct-Dec consol net profit INR 26.89 bln vs INR 3.27 bln yr ago 
--Tata Steel Oct-Dec consol revenue INR 570.02 bln vs INR 536.48 bln yr ago 
--Tata Steel Oct-Dec net profit includes one-time cost INR 1.40 bln 
--Tata Steel Oct-Dec profit excluding exceptional costs INR 28.29 bln 
--Tata Steel Apr-Dec consol net profit INR 78.68 bln vs INR 21.20 bln yr ago 
--Tata Steel Apr-Dec consol revenue INR 1.69 tln vs INR 1.62 tln yr ago 
--Tata Steel Oct-Dec consol operating EBITDA margin 14.58% vs 11.17% year ago 
--Tata Steel: Q3 Tata Steel India revenue INR 355.78 bln vs INR 327.60 bln 
--Tata Steel: Q3 Netherlands ops sales INR 140.0 bln vs INR 138.6 bln yr ago 
--Tata Steel: Q3 UK ops revenue INR 55.36 bln vs INR 56.65 bln year ago 
--Tata Steel Q3 consol reported EBITDA INR 83.09 bln vs INR 59.94 bln yr ago 
--Tata Steel Q3 consol reported EBITDA per tn INR 10,116 vs INR 7,759 yr ago 
--Tata Steel Q3 consol adjusted EBITDA INR 82.70 bln vs INR 71.55 bln yr ago 
--Tata Steel Q3 consol adjusted EBITDA per tn INR 10,069 vs INR 9,263 yr ago 
--Tata Steel Oct-Dec capex INR 32.91 bln; Apr-Dec capex INR 103.70 bln 
--Tata Steel net debt at INR 818.34 bln on Dec 31, down INR 52.06 bln on qtr 

 

By Arya S. Biju

MUMBAI – Tata Steel Ltd.'s bottom line for the December quarter jumped over eight times on year as its expenses grew at a slower pace than its revenue. This was mainly on account of a fall in its raw material costs, which fell on lower purchases in the UK and Netherlands. The company's bottom line was also better than what analysts had estimated. Its top line, on the other hand, failed to meet the Street's estimate. 

 

The steelmaker reported a consolidated net profit of INR 26.89 billion for the December quarter, more than eight times the INR 3.27 billion reported in the corresponding quarter a year ago and better than the INR 24.32 billion estimated by the Street. However, on a sequential basis, the company's bottom line fell over 13%. If not for the one-time cost of INR 1.40 billion, the company would have reported a consolidated net profit of INR 28.29 billion, indicating a near nine-fold on-year jump and a 9% sequential fall. 

 

The flagship metals company of the Tata group reported a consolidated revenue of INR 570.02 billion for the reporting quarter, up over 6% on year but down nearly 3% on quarter. This was also below the INR 577.12 billion estimated by the Street. With this, the company's top line grew on a year-on-year basis for the second straight quarter after falling for 12 quarters in a row. 

 

The company attributed the sequential fall in its revenue to the drop in steel realisations. However, the fall was limited by higher deliveries in India, Tata Steel said. "Tata Steel delivered a strong performance in this quarter, with India crude steel production rising 12% while deliveries grew faster at 14% YoY (year-on-year), surpassing the 6-million-tonne mark in a quarter for the first time," T.V. Narendran, chief executive officer and managing director of the company, said in a post-earnings press release. 

 

The company's total expenses for the quarter grew nearly 3% on year to INR 535.99 billion, much slower than the over 6% on-year rise in total sales. Its raw material cost, which accounted for 35% of its total costs, fell nearly 3% on year to INR 189.17 billion, primarily driven by lower purchases in the UK and Netherlands. The fall was, however, limited by improved production in India, the company said. Its tax expense for the quarter also fell over 17% on year to INR 11.38 billion. 

 

The company's other expenses, on the other hand, jumped nearly 13% on year to INR 200.08 billion. The expense accounted for 37% of the company's total costs in the December quarter. Its employee benefit cost also grew nearly 5% on year to INR 63.53 billion and its expenses related to purchase of stock-in-trade grew just over 1% on year to INR 40.70 billion. 

 

Tata Steel's consolidated earnings before interest, taxes, depreciation, and amortisation for the reporting quarter was INR 83.09 billion, up from INR 59.94 billion reported in the year-ago quarter. Its consolidated operating EBITDA margin was 14.58% in the December quarter, up 341 bps on year. Its EBITDA per tonne for the quarter was INR 10,116, up from INR 7,759 in the year-ago quarter.  

 

Its adjusted EBITDA for the quarter was INR 82.70 billion, up from INR 71.55 billion reported in the same quarter a year ago. Adjusted EBITDA per tonne was INR 10,069, up from INR 9,263 in the year-ago quarter. 

 

Revenue from the company's India business grew nearly 9% on year to INR 355.78 billion in the December quarter. The adjusted EBITDA of its India operations rose to INR 82.52 billion in the quarter from INR 78.20 billion in the year-ago quarter. However, the India adjusted EBITDA per tonne fell to INR 13,671 from INR 14,774 a year ago. 

 

In the December quarter, revenue from operations in the Netherlands grew 1% on year but fell nearly 11% on quarter to INR 140.01 billion. The sequential fall was mainly due to lower realisations and reduced volumes, Tata Steel said. Revenue from operations in the UK fell over 2% on year and nearly 7% on quarter to INR 55.36 billion, due to reduced volumes. 

 

For the nine months ended December, the company had reported a consolidated net profit of INR 78.68 billion, nearly four times the INR 21.20 billion reported in the year-ago quarter. Its revenue for the same period grew over 4% on year to INR 1.69 trillion. 

 

Tata Steel had spent INR 32.91 billion as capital expenditure during the December quarter and INR 103.70 billion in the nine months ended December. As of Dec. 31, its net debt was INR 818.34 billion, down by INR 52.06 billion from the trailing quarter. 

 

The company announced its December quarter earnings on Friday post-market hours. Ahead of the earnings, the stock closed at INR 197.06 on the National Stock Exchange, down marginally from the previous close.  End 

 

Reported by Arya S. Biju

Edited by Tanima Banerjee

 

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