Reuters.Tata Steel Ltd, under CEO and MD T V Narendran and CFO Koushik Chatterjee, posted a consolidated loss of Rs 6,511 crore ($871 million) in Q2FY24, primarily due to restructuring charges in its UK operations and decreased sales. This represents a 7% decline in revenue compared to the same period last year.
Despite these challenges, the company’s Indian operations remained stable with crude steel production of approximately 5 million tons. Its domestic deliveries saw a 6% year-on-year rise, particularly in the Auto and Branded Products & Retail segment.
In line with its expansion plans, Tata Steel has commenced production of FHCR coils at the Kalinganagar CRM complex. It is also planning a 5 MTPA expansion at the same location….
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