Tata Steel has reported that its net profit (attributed to owners) in the September quarter was up 18 per cent at ₹3,660 crore against ₹3,102 crore logged in the same period last year, on the back of better realisation.
Revenue increased 12 per cent to₹64,974 crore (₹58,216 crore). EBITDA was up at ₹10,665 crore (₹9,106 crore). EBITDA per tonne jumped to ₹13,462 (₹11,518 crore).
Noel Naval Tata will retire as the Non-Executive, Non-Independent Director and Vice Chairman of the company’s board, on November 11. He has been associated with the company since March 2022, said the company.
The company spent about ₹3,280 crore on capital expenditure during the quarter and ₹6,860 crore in the first half of this fiscal. Significant capex projects underway include 4.8 MTPA capacity expansion at Neelachal Ispat Nigam and downstream growth projects such as the 0.7 MTPA Hot Rolled Pickling and Galvanising Line and 300 kt of the Tinplate expansion, said the company.
Gross debt of the company increased to ₹1.02 lakh crore against ₹97,985 crore in the June quarter. The company had cash and cash equivalents of ₹10,301 crore and a mark-to-market gain of ₹644 crore in currency hedge, leading to a net debt of ₹91,423 crore.
Net debt stood at ₹91,423 crore. Our group liquidity remains strong at ₹40,076 crore, which includes cash and cash equivalents of ₹10,300 crore.
TV Narendran, Chief Executive Officer and Managing Director, said despite ongoing geoeconomic uncertainty and higher raw material costs, the company delivered strong growth in deliveries and earnings this quarter, backed by a resilient supply chain and close customer engagement.
In the Netherlands, the successful restart of the Direct Sheet Plant and its return to rated capacity have supported improvements in both the product mix and cost profile, he said.
“In the UK, while the Llanwern pickle line is now fully operational, the market conditions continue to be influenced by elevated imports and inventory build-up across parts of the value chain. We remain engaged with policymakers and regulators to support a more balanced and sustainable market environment,” he added.
Koushik Chatterjee, Executive Director & Chief Financial Officer, said Neelachal Ispat Nigam generated EBITDA of ₹318 crore, and the amalgamation of NINL with Tata Steel remains on track for completion during the financial year, subject to final NCLT approval.
In the Netherlands, EBITDA improved from €4 million in Q1 to €72 million in Q2, aided by favourable pricing and the restart of the Direct Sheet Plant in early August, he said.
In the UK, subdued demand and elevated inventories across the supply chain weighed on volumes and performance, he added.
Published on November 7, 2026
