Tata Steel Jan-Mar net profit falls 84 pc to Rs.1,566.24 crore

New Delh: Tata Steel on Tuesday posted a steep fall of over 84 per cent in its consolidated net profit at Rs 1,566.24 crore in the quarter ended March 2023, mainly on account by lower income.

The steel major had reported a net profit of Rs 9,835.12 crore in the year-ago quarter, it said in a BSE filing.

Tata Steel's total income also trimmed to Rs 63,131.08 crore from Rs 69,615.70 crore in January-March period of financial year 2021-22.

While the company's total expenses rose to Rs 59,918.15 crore from Rs 57,635.79 crore a year ago.

Tata Steel is among the top six steel producing companies in India.