24
Jan
15:33
Domestic demand boosts Tata’s December-quarter earnings
Indian steelmaking giant Tata Steel reported bumper consolidated net profit of INR 5.22 billion ($62.83 million) in its third fiscal quarter through December 2023 (FQ3). This contrasts with an FQ2 loss of INR 65.11 billion, mainly due to impairment charges, and a INR 25.02 billion loss in FQ3 the previous year, Kallanish notes.
The turn to profit is attributed to strong Indian domestic demand, which helped offset some challenges in its European market.
Tata Steel…
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Anonymous
Very good overview of the weekly steel market.
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