Tata Steel's first-quarter profit doubles due to increased realizations.

Improved steel prices and cost controls helped offset poor demand and decreased output across markets, allowing Tata Steel to outperform street predictions in the June quarter. Planned maintenance shutdowns throughout the quarter hurt production, but the business anticipates ramp-ups at its Kalinganagar plant to boost volumes the following quarter. Better realisations in India and a reduction in losses in its UK division helped India's second-largest steel manufacturer by capacity report that its consolidated net profit for the April-June quarter more than doubled year-over-year (y-o-y) to ₹2,077.68 crore. A profit of ₹1,849 crore was anticipated by 21 analysts in a Bloomberg poll. Tata Steel reported a net profit of ₹918.57 crore in the first quarter of FY25. On Wednesday, the business revealed its first-quarter earnings.