Tata Steel Q2 Results mostly met the Street's projections. On the back of Tata Steel Europe, which was expected to record earnings before interest, taxes, depreciation, and amortisation (EBITDA) losses owing to low volumes and realisation, analysts had anticipated a sharp drop in profitability during the quarter that ended in September. At 12:10 IST, Tata Steel share price was trading flat at ₹118.05 apiece on BSE.
For the quarter that ended September, Tata Steel reported a net loss of ₹6,196.24 crore for the quarter ended September. The steel makers, total revenue from operations also dropped by 7% year-on-year (YoY) to ₹55,681.93 crore for Q2FY24.
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