AT A GLANCE: Tata Steel reports higher profits despite deliveries drop

A summary of the third-quarter financial results for Indian steelmaker Tata Steel from October 1 to December 31, 2020.

In brief: Production in India increased over the quarter while deliveries dipped. Turnover rose quarter on quarter as well as year on year. European operations reported a loss on lower production and deliveries.  The company's sales gained strong momentum over the period but lower opening inventory constrained their growth. India operations reported their highest ever quarterly earnings before interest, taxes, depreciation and amortization (Ebitda) due to higher prices, a better product mix, lower exports and operating efficiency initiatives, Tata said. India third-quarter results Turnover 252.11 billion rupees ($3.47 billion) compared to 230.67 billion...

Published

Carrie Bone

February 11, 2021

17:02 GMT

London