Tata Steel said on Wednesday that it reported a net profit of ₹3,102 crore for the quarter ended September 30, compared to a net profit of ₹833 crore in the year-ago quarter, on the back of a strong India performance despite a tough global environment marred by a tariff overhang. It reported a 9% increase in revenue to ₹58,689 crore.

“Despite the persistent overhang of tariffs, geopolitical tensions, and elevated steel exports, Tata Steel delivered a resilient performance with improved Ebitda margins for the second consecutive quarter,” said T. V. Narendran, Chief Executive Officer & Managing Director, Tata Steel, in a statement. “Crude steel production in India rose 8% sequentially, and deliveries grew 17% as our marketing franchise enabled us to scale effectively.”

The India operations of Tata Steel reported second-quarter revenues of ₹34,787 crore and Ebitda of ₹8,654 crore, translating to a 25% margin. Crude steel production stood at 5.65 million tonnes, while deliveries reached 5.55 million tonnes, aided by higher domestic demand.

In Europe, Tata Steel Netherlands reported revenues of €1,551 million and Ebitda of €92 million, a two-fold increase from the year-ago period. The UK operations, meanwhile, posted a loss of £66 million on revenues of £505 million. The Ebitda loss, notwithstanding, has halved from last year.

In terms of capital expenditure, Tata Steel said it spent ₹3,250 crore during the quarter. The half-year capital expenditure, therefore, was ₹7,079 crore. The steelmaker’s net debt stood at ₹87,040 crore at the end of September 2025, while consolidated gross debt declined by around ₹3,300 crore sequentially to ₹95,643 crore.

“Tata Steel has continued to perform well despite the challenging operating environment,” said Koushik Chatterjee, Executive Director and Chief Financial Officer, in a statement. “Ebitda margin improved by 145 basis points quarter-on-quarter, supported by our cost transformation programme, which delivered around ₹2,561 crore in savings for the quarter.” He added that the company generated operating cash flows of about ₹7,000 crore before capex and dividends and reduced its UK subsidiary’s debt by £540 million during the quarter.

In line with its portfolio strategy, the steelmaker also said it has signed a share purchase agreement with BlueScope Steel to acquire the remaining 50% stake in Tata BlueScope Steel Private Limited, thereby making it a wholly owned subsidiary. The acquisition is subject to regulatory approvals.

Tata Steel said that it continues to strengthen its downstream and retail segments. Tata Tiscon, its branded rebar business, has grown 27% sequentially. Its e-commerce platforms Aashiyana and DigECA—achieved a Gross Merchandise Value of ₹1,980 crore, more than tripling on a year-on-year basis.