India’s Tata Steel Limited achieved net profit of INR 29.26 billion ($304.66 million) in fourth quarter (January-March) of fiscal 2025-26, a rise of 125 percent over corresponding quarter of previous fiscal, according to a company statement on Monday, May 18.
The company reported total revenue from operations at INR 632.70 billion ($6.59 billion) during the quarter, a rise of 13 percent.
Tata Steel consolidated sales volume during the quarter was reported at 8.72 million mt, compared to 8.33 million mt in corresponding quarter of previous fiscal.
It said that broad price support, especially in the company's India operations, which were benefited by the government's safeguard duty on a number of grades of imported steel.
According to Tata Steel's management, prices also improved in Europe due to new measures to protect the European steel industry.
"In Europe, import safeguards and roll out of the Carbon Border Adjustment Mechanism from January 1 has improved pricing conditions," Tata Steel CEO, T.V. Narendran, said in the statement.
It said that the company’s decarbonization plans of its Dutch operations would be carried out in the next phase after similar project underway in UK, as the European Union's net zero regulations kick in by the end of the decade. The decarbonization program is running late compared to the UK, with the company being in discussions with the Dutch government for financial support for the decarbonization, expected to carry a bill of around $5 billion, according to market estimates, it said.