Tata Steel Q2 results: Company reports net loss of ₹6,196 crore

Tata Steel Q2: Company reported consolidated net loss of ₹6,196.24 crore (attributable to owners of the company) in July-September quarter of FY23-24. The steel maker had reported a consolidated net profit of ₹633.95 crore in the September quarter of FY23.

Its total revenue from operations declined by 7% YoY to ₹55,681.93 crore in September quarter of FY24, against ₹59,877.52 crore in the September quarter of FY23.

According to the industry experts, the company was expected to report a sharp decline in its profitability due to Tata Steel Europe which was expected to report losses due to poor volumes and realization. Tata Steel's consolidated revenue in the quarter ended September 2023 is expected to fall 6% to ₹56,285, according to analysts estimates.