Tata Steel Q2 results: consolidated profit after tax rises 16% to Rs 3,700 crore as EBITDA grows 17%
Tata Steel Q2 results: consolidated PAT rose 16% to Rs 3,700 crore and EBITDA 17% to Rs 10,665 crore; India EBITDA margin was 25%.
Tata Steel reported consolidated profit after tax of Rs 3,700 crore for the July-September 2026 quarter (Q2 FY27), up from Rs 3,183 crore a year earlier, according to its press release filed with the exchanges on November 7, 2026. These Tata Steel Q2 results also show consolidated revenue of Rs 65,436 crore and EBITDA of Rs 10,665 crore, about 16% of revenue.
Tata Steel Q2 results: key numbers
The figures below are consolidated, in Rs crore, as stated in the company’s press release. EBITDA means earnings before interest, tax, depreciation and amortisation.
| Measure (Rs crore) | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue (turnover) | 65,436 | 58,689 | 11% |
| EBITDA | 10,665 | 9,106 | 17% |
| Profit before tax, before exceptional items | 5,106 | 4,643 | 10% |
| Reported profit after tax | 3,700 | 3,183 | 16% |
Compared with the April-June quarter, EBITDA rose 14% from Rs 9,370 crore and reported profit after tax rose from Rs 2,385 crore. Prior-period figures have been restated after the merger of Rujuvalika Investments, the company notes.
Why Tata Steel’s EBITDA rose: India led the quarter
India business EBITDA was Rs 10,634 crore on revenue of Rs 42,653 crore, a margin of 25%. Crude steel production rose 7% from the previous quarter to 6.18 million tonnes, and deliveries rose 16% to 5.98 million tonnes.
In the Netherlands, EBITDA was EUR 72 million, helped by the restart of the Direct Sheet Plant in early August. The UK business posted an EBITDA loss of GBP 56 million. Chief executive T V Narendran said UK market conditions were influenced by elevated imports and inventory build-up.
One-time items and balance sheet
The company booked an exceptional gain of Rs 349 crore at the consolidated level, against a loss of Rs 420 crore a year earlier. That helped reported profit after tax grow faster than profit before exceptional items.
Net debt stood at Rs 91,423 crore, or 2.4 times EBITDA. Capital expenditure was about Rs 3,280 crore in the quarter.
What to watch next
The company said the merger of Neelachal Ispat Nigam Limited with Tata Steel remains on track for completion this financial year, subject to final NCLT approval. In our view, the UK business and Netherlands compliance work are the main swing factors for consolidated earnings. For more results coverage, see our results news page.
Frequently asked questions
What is EBITDA per tonne and why does it matter for steel makers?
It is earnings before interest, tax, depreciation and amortisation divided by tonnes sold. It shows how much operating profit a company makes on each tonne of steel. Tata Steel reported Rs 13,462 per tonne on a consolidated basis and Rs 17,790 per tonne for India in Q2 FY27.
This article is a summary for information only and is not investment advice. Figures are as reported by the sources above; please verify with the original filing or report before making any decision.
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