Tata Steel Q3 Results: Tata Steel announced its October-December quarter results for fiscal 2025-26 (Q3FY26) on Friday, Feb. 6, reporting a loss of 13.3% in consolidated net profit of Rs 2,689 crore, compared to Rs 3,102 crore in the preceding September quarter. The Tata Group's multinational steel major's revenue from operations in the third quarter of current fiscal dropped 3% to Rs 57,002 crore, compared to Rs 58,689 crore in the preceding September quarter. The company missed Bloomberg estimates.
On the operating performance, Tata Steel's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the December quarter fell 7.8% to Rs 8,200 crore, compared to Rs 8,896 crore in the second quarter of FY26. Margin shrunk to 14.4% sequentially from 15.2%. The company also suffered a one-time cost impact of Rs 140 crore during the quarter under review.
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Tata Steel Q3FY26 Results (Cons, QoQ)
- Profit down 13.3% to Rs 2,689 crore Vs Rs 3,102 crore Vs estimate Of Rs 3,227 crore
- Revenue drops 2.9% to Rs 57,002 crore Vs Rs 58,689 crore Vs estimate of Rs 58,537 crore
- EBITDA down 7.8% At Rs 8,200 crore Vs Rs 8,896 crore Vs estimate Of Rs 8,759 crore
- Margin to 14.4% Vs 15.2% QoQ Vs estimate of 15%
Netherlands revenues were €1,354 million and EBITDA was €55 million. Liquid steel production was 1.68 million tons and deliveries were 1.40 million tons.UK revenues were £468 million and EBITDA loss stood at £63 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand and steady imports.
In December 2025, Tata Steel Board affirmed the long-term growth strategy for India business. Tata Steel will prioritize investments for a) volume growth, b) value added downstream portfolio, c) identified mining assets and infrastructure to serve the needs of the India business, and d) new to the world low carbon and low capital intensity process technologies for sustainable steel making of the future.
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Tata Steel spent Rs 3,291 crore on capital expenditure during the quarter and Rs 10,370 crore in 9MFY26. Net debt declined by Rs 5,206 crore QoQ to Rs 81,834 crore. The company also completed the acquisition of 50.01% stake in Thriveni Pellets Private Ltd, which in turn holds 100% equity stake in Brahmani River Pellets Private Ltd.
"Our global operating environment continues to be shaped by tariffs, geopolitical shifts and policy divergence. Steel markets were impacted by elevated finished steel exports from China, which at 119 million tons surpassed the 2015 peak. Against this backdrop, Tata Steel delivered a strong performance in this quarter, with India crude steel production rising 12% while deliveries grew faster at 14% YoY, surpassing the six million tons mark in a quarter for the first time,'' said T V Narendran, Chief Executive Officer & Managing Director, Tata Steel.
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''In our overseas operations, deliveries stood at 0.52 million tons in the UK and 1.40 million tons in the Netherlands. Supportive policy frameworks are vital to transition to a more sustainable operating model. While the recent progress in Europe has supported sentiment, the UK market continues to be depressed, and the quota framework needs to be revised to reflect underlying market conditions,'' added Narendran. Ahead of the announcement of Q3FY26 results, shares of Tata Steel settled 0.3% lower at Rs 197.05 apiece on the BSE.
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