Tata Steel on Friday said its consolidated net profit declined about 50 per cent to Rs 1,665.07 crore in the September 2020 quarter.
The company had clocked a net profit of Rs 3,302.31 crore in the corresponding quarter of the previous financial year, Tata Steel said in a BSE filing.
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Its total income during July-September 2020 stood at Rs 37,376.13 crore, compared with Rs 34,762.73 crore in the year-ago period.
The firm’s total expenses were at Rs 35,244.58 crore, against Rs 34,758.15 crore a year ago.
In a separate statement, Tata Steel has informed about the company’s plans with respect to its operations in Europe.
The company has initiated discussions with Sweden-based SSAB on potential sale of Tata Steel Netherland business, including Ijmuiden steelworks.
Tata Steel said it has also initiated the process to separate Tata Steel