Tata Steel Q1 profit rises 11.58% YoY revenue grows 14.32%
Business
Tata Steel just posted a net profit of ₹2,318.35 crore for the April-June quarter, up 11.58% from last year.
Revenue also saw a solid boost, growing 14.32% to ₹60,794.29 crore.
But compared to the previous quarter, both profit and revenue actually slipped a bit.
Tata Steel approves ₹33,873 cr expansion
To ramp up its steelmaking game, Tata Steel's board approved a huge ₹33,873 crore investment for expanding capacity at Neelachal Ispat Nigam Ltd (NINL), which is currently undergoing the process of amalgamation into Tata Steel Ltd.
Despite these moves, the company's shares closed slightly lower on July 30 at ₹186.95, a small drop.