Business · Companies · 1 day ago
Tata Steel Q2 profit rises 18% on strong demand and cost savings
Tata Steel’s net profit rose 18% to ₹3,666.41 crore in the July-to-September quarter of 2026, beating analyst estimates.
The Mumbai-headquartered steelmaker said strong demand and cost measures helped its results.
India operations led the growth, with higher sales volumes and profit offsetting higher raw-material costs.
Its Netherlands business improved from the previous quarter after a plant restarted, but its UK operations faced weak demand and high inventories.
The UK business continued to lose money, though its loss was smaller than a year earlier.
Tata Steel delivered ₹1,800 crore in cost savings in the first half of the financial year, below its full-year target of ₹7,000 crore, after operational disruptions delayed some benefits.
The company kept its savings target unchanged, saying it expects more benefits in the second half; meanwhile, Noel Naval Tata is due to leave the board’s vice-chair role on 11 November, and discussions with Dutch authorities on its proposed transition have been extended to March 2027.
Tata Steel reported consolidated net profit of ₹3,666.41 crore in Q2FY27, up about 18% year on year.
Revenue rose to ₹65,436.24 crore, while EBITDA reached ₹10,665 crore.
India operations led earnings, with deliveries and volumes increasing during the quarter.
Cost savings reached ₹1,800 crore in the first half of FY27, below the company’s full-year target of ₹7,000 crore.
The company said weak UK demand and operational disruptions affected parts of its business.
Noel Naval Tata is due to retire as Tata Steel’s vice chairman and director on November 11, 2026.
- Who
- Tata Steel.
- What
- It reported Q2FY27 consolidated net profit of ₹3,666.41 crore, up about 18% year on year.
- When
- The results were reported on Saturday, November 7, 2026, for the quarter ended in September.
- Where
- The results cover Tata Steel’s consolidated operations, including India, the Netherlands and the UK.
- Why
- Strong India operations, demand and cost initiatives supported earnings; the company also cited higher raw material costs and operational challenges.
This story does not have two clearly opposing sides.
Tata Steel recorded consolidated net profit of ₹3,666.41 crore and revenue of ₹65,436.24 crore.
The Direct Sheet Plant in the Netherlands restarted, helping improve operational performance and product mix.
Tata Steel delivered ₹1,800 crore in cost savings, against its full-year target of ₹7,000 crore.
Tata Steel reported its September-quarter results and announced Noel Naval Tata’s planned retirement from the board.
Noel Naval Tata is due to retire as vice chairman and non-executive, non-independent director.
- Consolidated net profit
- ₹3,666.41 crore, up about 18% year on year
- Consolidated revenue
- ₹65,436.24 crore
- Consolidated EBITDA
- ₹10,665 crore
- First-half cost savings
- ₹1,800 crore
- Full-year cost-savings target
- ₹7,000 crore
- Noel Naval Tata retirement
- Effective close of business on November 11, 2026
2 sources
What people are saying
The crisis in West Asia, the planned shutdown in India, the direct sheet mill outage in the Netherlands and the unfortunate fire in Tata Steel UK has distorted some of the cost takeout profile.
India continued to be the cornerstone of our performance with volumes growing 16 per cent Q-o-Q despite a seasonally softer quarter, reflecting the strength of our market presence and customer reach.
Combination of industry tailwinds, company-specific cost initiatives, and iron ore monetisation led to strong earnings.
The prices are good, the spreads are good, but the volumes are not good.