Tata Steel Q1 net profit falls over 93% to ₹524.85 crore
The Hindu
Tata Steel posted over 93% decline in consolidated net profit to ₹524.85 crore for the April-June quarter
Tata Steel on July 24 posted over 93% decline in consolidated net profit to ₹524.85 crore for the April-June quarter of 2023-24 on account of higher expenses.
It had posted ₹7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges.
Total income also declined to ₹60,666.48 crore from ₹63,698.15 crore in the year-ago quarter, a fall of 4.75%.
Expenses soared to ₹58,553.25 crore in the first quarter of FY24 as against ₹51,912.17 crore a year ago.
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