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Published on 16/11/2020 11:27:36 AM | Source: Dion Global Solutions Ltd

Tata Steel Q2 net profit down 42.55% at Rs 2204.87 cr

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The company reported standalone net profit of Rs 2,204.87 crore for the quarter ended September 30, 2020 as compared to Rs 3837.81 crore in the same period last year, registering a year-on-year decline of 42.55 per cent. Net revenue of the company rose moderately by 12.95 per cent at Rs 16,361.98 crore in July-September quarter of this fiscal as against Rs 14,486.58 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 3.02 per cent to Rs 11,737.31 crore from Rs 11,392.95 crore in year ago period. Other Income grew by 79.99 per cent at Rs 186.24 crore versus (Sep'19 Rs 103.47 crore). Operating Profit surged by 32.96 per cent to Rs 4,624.67 crore as against Rs 3,478.23 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 17.70 per cent in September quarter. Interest grew by 18.85 per cent y-o-y to Rs 855.74 crore, while Taxation increased by 137.72 per cent at Rs 735.13 crore