Tata Steel announced that its net income fell 20.5 percent year on year to Rs 7,765 thousand. In the same period of 2021, the company had a net profit of Rs 9,768 thousand.
Total revenue increased by 18.8% to rupees 63,430.07 thousand compared to 53,371 thousand, despite the increase in the production costs of coking coal and gas prices in Europe. The slowdown experienced with the export tax of 15% caused a decrease in exports by 2% annually.
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