India’s Tata Steel Limited has reported a consolidated net profit of 98.35 billion ($1.285 billion) in Q4 (January-March) of fiscal 2021-22, up 37.3 percent over corresponding period of the previous fiscal, a company statement said on Wednesday, May 4.
The company reported consolidated revenue of INR 693.23 billion ($9.061 billion) during the quarter up 34 percent, with Tata Steel Europe contributing revenue of INR 263.89 billion ($3.45billion) clocking a growth of 53 percent, the statement said.
“Tata Steel has again demonstrated its ability to deliver stellar results despite heightened complexity in the face of Covid as well as geopolitical tensions," T V Narendran, Chief Executive Officer & Managing Director said.
The company further said the production at 7.62 million mt in Q4 declined 5 percent compared to the corresponding quarter of year-ago period, but deliveries increased by 2.3 percent to 8.01 million mt in the same period.