Tata Steel reported its highest ever quarterly profit on 11 November 2021, as record steel prices lifted earnings across its Indian and European businesses. Consolidated profit after tax for the second quarter of the 2021-22 financial year reached 12,548 crore rupees, up seven and a half times from a year earlier, while consolidated adjusted operating profit rose 12 percent from the previous quarter to 17,810 crore rupees, also a record. Revenue reached 60,283 crore rupees, up 54.8 percent year on year. In India, the standalone business posted its best ever quarterly operating profit of 13,574 crore rupees, and the company said it had reached investment grade financial metrics. The European business also improved, helped by strong prices and demand. Chief executive T. V. Narendran said the performance reflected strength across all geographies. The results capped a year in which steelmakers worldwide earned record profits, even as raw material costs swung violently and China, the largest market, cut output.
Source: Tata Steel — https://Www.Tatasteel.Com/newsroom/press-releases/india/2021/2qfy22-financial-results-tata-steel-reports-highest-ever-quarterly-consolidated-ebitda-achieves-investment-grade-metrics/
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