The profit of Tata Steel’s first quarter rose to INR 1,933.8 C which is more than double compared to INR 921.1 Cr in the corresponding period last financial year driven by growth. The revenue during this quarter grew to INR 37,832.8 Cr (up 27.6%) from INR 29,657.3 Cr in a previous year, led by growth in all the subsidiaries on a potent demand of steel across the world especially in Europe.

“Tata Steel served strong performance across all the geographical areas on the back of strong demand of steel & buoyant spreads,” T. V. Narendran, CEO and Managing Director said.

He further added, “All verticals saw strong growth, with branded products and automotive segments now contributing to 33% & 19% of total volumes, respectively.”

The Revenue of Tata Steel from Europe increased 17% YoY to INR 16,429.31 Cr with EBIT rising 33% to INR 1,666.21 Cr for the June quarter 2018. In India, Tata Steel deliveries grew by 7.9% Year-on-Year to 2.97 million tonnes in total in Q1FY19.