Team News Riveting
Jamshedpur, January 17
The Board of Directors of Tata Steel Limited will meet on January 27 to consider financial statements for the third quarter (Q3) and nine months of the current financial year.
“A meeting of the Board of Directors of Tata Steel Limited will be held on Monday, January 27, 2025, inter alia, to consider and take on record the audited Standalone and unaudited Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024,” the company said in a regulatory filing today.
In the second quarter ended September 2024 (Q2FY25), Tata Steel reported a consolidated net profit of Rs 833.45 crore, aided by lower expenses. During the corresponding period last year, the company posted a net loss of Rs 6,196.24 crore, largely on account of impairment charges and restructuring costs in the UK.
Total revenue on a consolidated basis at Rs 53,904.71 crore was down 3.2 per cent year-on-year (Y-o-Y) in Q2. The revenue was down 1.6 per cent, primarily due to lower realisations in India and the Netherlands. Net profit was down 13.1 per cent quarter-on-quarter (Q-o-Q).
