India’s Tata Steel Limited achieved a consolidated net profit of INR 12.01 billion ($141.82 million) in the fourth quarter (January-March) of the fiscal year 2024-25, a rise of 117 percent year on year, according to a company statement on Tuesday, May 13.
However, Tata Steel Limited’s net profit from its operations in India declined by 22.5 percent to INR 31.69 billion ($371.40 million), according to the statement.
Consolidated revenue for the fourth quarter was reported at INR 562.2 billion ($6.62 billion), a rise of four percent year on year.
“Fiscal 2024-25 has been an important transition year for Tata Steel with significant developments across operating geographies,” company CEO T V Narendran said.
“During the year, the company commissioned India’s largest blast furnace at Kalinganagar, Odisha, decommissioned two blast furnaces in the UK and achieved production levels near rated capacity in the Netherlands,” he said.
Quarterly sales in India were the best-ever at around 21 million mt, up five percent, aided by a ramp-up of the new blast furnace at Kalinganagar and capacity utilization close to 100 percent at the remaining operations, he said.
