Domestic steel giant Tata Steel on Monday reported a nearly 90 per cent drop in consolidated net profit to ₹1,297 crore for the July-September quarter of 2023-23, dragged by higher expenses.
{{^htLoading}} {{/htLoading}}
The company's net profit stood at ₹12,547.70 crore in the corresponding period of the previous financial year, Tata Steel said in a BSE filing.
Its total income during July-September 2022 stood at ₹60,206.78 crore as against ₹60,657.98 crore in the year-ago period.
The firm's total expenses rose to ₹57,684.09 crore from ₹47,239.63 crore earlier.
Homegrown Tata Steel is among the top steel producers in the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Advertisement
{{/htLoading}}{{#usCountry}}