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Tata Steel net profit for Q2 decreases by 90% to Rs 1,297 cr on higher expenses

New Delhi: Due to rising expenses, domestic steel company Tata Steel on Monday declared a consolidated net profit for the July-September quarter of 2022–23 that fell by nearly 90% to Rs 1,297 crore.

According to a BSE report by Tata Steel, the company’s net profit for the same time of the prior fiscal year was Rs 12,547.70 crore.

In comparison to the same time a year prior, its total revenue from July through September 2022 was Rs 60,206.78 crore versus Rs 60,657.98 crore.

The company’s overall costs increased from Rs 47,239.63 crore to Rs 57,684.09 crore.

One of the leading producers of steel worldwide is local company Tata Steel.

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