Tata Steel posts higher Q2 FY27 earnings on strong India performance

Tata Steel reported higher earnings for the July-September quarter, supported by increased production and deliveries and a strong performance from its Indian operations.

Consolidated revenue rose 11.5pct YoY to INR 654.36 bln (USD 6.97 bln), while EBITDA increased 17.1pct to INR 106.65 bln (USD 1.14 bln). Net profit rose 16.2pct YoY to INR 37 bln (USD 394 mln).

On a consolidated basis, the company’s steel production increased 4.4pct YoY and 4.9pct QoQ to 8.07 mln tons. Deliveries rose 8.9pct QoQ to 7.92 mln tons and remained broadly unchanged from a year earlier.

In India, Tata Steel’s crude steel production increased 9.6pct YoY and 7pct QoQ to 6.18 mln tons, while deliveries rose 7.7pct YoY and 16pct QoQ to 5.98 mln tons

The company said its performance was supported by strong growth in India despite higher raw material costs and a challenging operating environment. In Europe, Tata Steel Netherlands produced 1.52 mln tons of liquid steel and delivered 1.30 mln tons during the quarter, aided by the restart of its Direct Sheet Plant in August. Weak demand and high inventories continued to weigh on the UK business, where deliveries declined to 0.38 mln tons.

Tata Steel is among the world's leading steel producers, with annual crude steel capacity of around 35 mln tons.

1 USD / 93.9 INR