Tata Steel profits up 9x on improved sales

MUMBAI: Tata Steel’s consolidated profit surged multifold to Rs 2,730 crore in Q3FY26, aided by higher sales volumes despite weak steel prices. Its profit in Q3FY25 was Rs 296 crore.

Domestic production volumes increased 11%, while delivery volumes grew 14%, driven by improved capacity utilisation at its Kalinganagar and Jamshedpur plants. Quarterly deliveries crossed six million tonnes for the first time for Tata Steel in India. This lifted the TV Narendran-led company’s revenue from operations by 6% to Rs 57,002 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) from India operations grew nearly 5% to Rs 8,291 crore during the quarter. Steel prices, however, remained weak for most of the quarter as global supply outpaced demand, dragging down flat product prices. Prices have shown signs of recovery since Dec, aided by policy support from govt. Last month, India imposed a three-year import tariff on select steel products to curb imports from China, replacing a 12% duty that had been introduced in April for 200 days. The longer-duration levy is expected to provide greater protection to domestic steelmakers.