Tata Steel Q1 results: Consolidated net profit falls over 93% to Rs 524.85 crore

Tata Steel Q1 results: Tata Steel on Monday posted over 93 per cent decline in consolidated net profit to Rs 524.85 crore for the April-June quarter of 2023-24 on account of higher expenses.

Tata Steel Q1 results: Consolidated net profit falls over 93% to Rs 524.85 crore
Tata Steel Q1 results: It had posted Rs 7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges. Image Courtesy: Reuters.

Tata Steel Q1 results: Tata Steel on Monday posted over 93 per cent decline in consolidated net profit to Rs 524.85 crore for the April-June quarter of 2023-24 on account of higher expenses.

It had posted Rs 7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges.

Total income also declined to Rs 60,666.48 crore from Rs 63,698.15 crore in the year-ago quarter, a fall of 4.75 per cent.

Expenses soared to Rs 58,553.25 crore in the first quarter of FY24 as against Rs 51,912.17 crore a year ago.

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Written By: PTI
Updated: Mon, Jul 24, 2023
06:53 PM IST
PTI
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