India-headquartered steel giant Tata Steel Group has issued its group financial results, including Tata Steel Europe, for the second quarter of the financial year 2018-19, ended September 30.
Tata Steel Group recorded a net profit of INR 31.16 billion ($432 million) in the second quarter, compared to a net profit of INR 10.18 billion in the corresponding period of the previous financial year. The group's second quarter turnover amounted to INR 435.44 billion ($6.03 billion), increasing by 34.1 percent year on year. The group’s EBITDA totaled INR 90 billion ($1.25 billion) in the given quarter, rising by 93 percent year on year.
In the second quarter of the financial year 2018-19, Tata Steel Group’s consolidated steel deliveries amounted to 7.42 million mt, up 15 percent year on year.
Tata Steel’s strong second-quarter performance was the result of increased operational performance and favorable business conditions in India. The company is positive on the steel demand outlook, especially in India, despite increasing imports and the risk of trade wars.