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Tata Steel shares rose 2% at the outset on April 8, after the firm disclosed on April 5 that its Q4 India crude steel production increased by 4.5% year on year to 5.38 million tonnes.
Deliveries in the same year grew by 5% year on year to 5.41 MT. According to the report, Tata Steel India produced 20.8 MT of crude steel in FY24, 4% YoY more than its previous record.
In Q3FY24, the company reported a consolidated net profit of ₹522.14 crore in the October-December quarter, against a net loss of ₹2,501.95 crore in Q3FY23. In the same period, operating revenue dropped by 3% to ₹55,311.9 crore from ₹57,083.56 crore in the preceding fiscal year.
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