Indian steelmaker Tata Steel Limited has reported a consolidated net profits of INR 95.73 billion ($1.28 billion) for the third quarter (October-December) of the fiscal year 2021-22, up 159 percent year on year, a company statement said on Monday, February 7.
The company reported consolidated sales revenue of INR 607.83 billion ($8.136 billion) during the third quarter, up 45 percent year on year.
The company produced 7.76 million mt of steel during the quarter, which was stable compared to 7.77 million mt produced in the July-September quarter and marginally higher compared to 7.74 million mt produced in the same quarter of the previous fiscal year.
Sales volume during the quarter in question declined by 5.4 percent year on year and 5.1 percent quarter on quarter, the company reported.