Indian steel giant Tata Steel released its official quarterly results for the first quarter of fiscal year 2026-27 (quarter ending June 30). The group's consolidated net revenue climbed 14.3% year on year to 607.94 billion Indian rupees ($6.39 billion), while domestic Indian operating revenue advanced 19% to 369 billion rupees. Consolidated net profit grew 11.6% to 23.18 billion rupees.

Robust domestic demand underpinned the earnings upturn, supported by Indian governmental infrastructure expenditure, active automotive, construction and defense sectors, alongside higher flat steel prices.

Domestic operations delivered standout results: India-based EBITDA jumped 21.6% to 191.6 billion rupees. Nevertheless, overseas business downturns partially offset such gains. Total costs grew 13.1% to 569.4 billion rupees, partly driven by a 12% year-on-year growth in coking coal and iron ore raw material costs.

Tata Steel's Dutch plant output dropped 8.8%, with its EBITDA slumping 94%; the UK division remains trapped in operating losses amid logistics bottlenecks and geopolitical volatility.

Tata Steel's board has greenlit a large-scale investment plan valued at 338.73 billion rupees. The capital will fund a 4.8 million tonnes per annum capacity expansion at subsidiary Neelachal Ispat Nigam's Kalinganagar plant in Odisha, consolidating the group's competitiveness in high-margin long steel products.

Tata Steel's Indian steel output reached 5.82 million tonnes in the first quarter of FY27 (April-June), a year-on-year rise of 11%. Domestic steel sales also expanded 11% on the year to 5.17 million tonnes.