 "Tata Steel Q1 profit falls 21% to Rs 7,714 crore due to higher expenses")
Tata Steel on Monday posted a 21 per cent fall in its consolidated net profit to Rs 7,714 crore for the April-June quarter due to higher expenses.
The company had reported a net profit of Rs 9,768 crore in the same period of 2021-22, the steel giant said in regulatory filing.
Total income of the company was at Rs 63,698.15 crore in April-June this year against Rs 53,627.66 crore in April-June of the preceding fiscal.
Its expenses including the cost of materials consumed and the finance cost, increased to Rs 51,912.17 crore from Rs 41,490.85 crore in the year-ago quarter.
Tata Steel is among the country's top four steel producers and contributes around 18 per to the total domestic steel production.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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