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One of India’s largest private sector steel producer Tata Steel reported their first quarterly result for the current financial year. In the report under review, Tata Steel’s profit inclined to Rs. 1934 crores, registering a 53% increase as against the net profit of Rs. 921 crore in the corresponding period. The company’s year-on-year standalone revenue grew by 26.4% to Rs. 16,405 crore in comparison to Rs.12,970 crore a year ago.
The company’s EBITDA stood at Rs. 5118 crores, a jump of 75.2% in the quarter under review. The incremental movement in earnings of the company was supported by expanding sales growth in the automobile and industrial sector, and much-improved efficiency in operations.
The company’s consolidated revenue also went up to Rs. 37,832 from the year-earlier period of Rs. 29657.3 crore, an increase of 27.6%. The company’s revenue in Europe went upscale by 17% year-on-year basis to Rs.16429.31 crore and its EBIT margin also increased by 33%.
