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Tata Steel has returned to profits from the deficit. During the quarter ending March 31, 2018, Tata Steel registered a consolidated profit of Rs. 14,688.02 crores as against the loss of Rs. 1,168 crores during the same quarter last year.
Consolidated Income Rs 36407 Crore
According to information given by the company in BSE filing, its consolidated income during the January-March quarter stood at Rs 36,407.19 crore, compared to Rs 35,457.06 crore during the same quarter of the financial year 2017.
During the quarter, the company’s expenditure increased to Rs 32,626 crores, while the expenditure during the quarter ended March, 2017 was Rs 31,132.02 crores.
Tata Steel has been the best for the year: Narendra
Company CEO and MD TV Narendran said, “Tata Steel’s performance was spectacular during fiscal year 18 on the basis of the strategy of implementation and balance of supply-demand in the global market. During the year, the volume growth of the Indian operations has been spectacular compared to the expansion of the Kalinganagar plant and the strength of the marketing network and the brand equity on the basis of brand equity.
Process of restructuring of UK pension scheme
He said growth in all marketing segments was recorded and despite the ups and downs in the currency, this quarter was good for Tata Steel Europe. Narendran said, “The restructuring process of the UK Pension Scheme has also been completed. There is good progress on JV with equal share with ThyssenCrup and we are committed to building a strong European portfolio. ”
Company working on expansion strategy
He said that the company is constantly working on its expansion strategy in India. He said, “The expansion of Kalinganagar Phase II is good, which will increase our capacities from 1.3 million tonnes to 18 million tonnes of crude steel.” I am happy to inform that the NCLT has approved our resolution plan for Bhushan Steel. We have also got the approval of CCI for this transaction. ”
The data of this blog has taken from Moneybhasker.com by this link Tata Steel returns to profits from deficit, profit of Rs 14,688 cr in March quarter
TradeIndia Research 