Tata Steel Ltd. Q3 FY2026 results: revenue ₹57,002 crore, up 6.3% on the year
Tata Steel Ltd. (TATASTEEL) reported consolidated revenue from operations of ₹57,002 crore for Q3 FY2026, the quarter ended 31 December 2025, up 6.3% on the same quarter a year earlier. Profit after tax was ₹2,730 crore, up 824.0% on the year, and earnings per share ₹2.16. The figures are the company's own, from the un-audited results it filed with NSE on 6 February 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 57,002 | 58,689 | 53,648 | +6.3% |
| Other income | 501 | 364 | 221 | +126.7% |
| Total income | 57,503 | 59,053 | 53,869 | +6.7% |
| Cost of materials consumed | 18,917 | 17,859 | 19,404 | -2.5% |
| Purchases of stock-in-trade | 4,070 | 5,588 | 4,025 | +1.1% |
| Changes in inventories | -545 | 979 | 501 | n/a |
| Employee benefit expense | 6,353 | 6,349 | 6,072 | +4.6% |
| Finance costs | 1,747 | 1,775 | 1,804 | -3.1% |
| Depreciation, depletion and amortisation | 3,049 | 2,893 | 2,569 | +18.7% |
| Other expenses | 20,008 | 19,018 | 17,742 | +12.8% |
| Total expenses | 53,599 | 54,461 | 52,118 | +2.8% |
| Profit before exceptional items and tax | 3,905 | 4,592 | 1,751 | +123.0% |
| Exceptional items | -140 | -420 | -126 | n/a |
| Profit before tax | 3,765 | 4,172 | 1,625 | +131.7% |
| Current tax | 1,267 | 1,208 | 457 | +177.2% |
| Deferred tax | -128 | -168 | 920 | n/a |
| Total tax | 1,138 | 1,039 | 1,377 | -17.3% |
| Profit after tax | 2,730 | 3,183 | 295 | +824.0% |
| Attributable to owners of the parent | 2,689 | 3,102 | 327 | +723.1% |
| Other comprehensive income | 866 | 1,491 | -857 | n/a |
| Total comprehensive income | 3,597 | 4,674 | -561 | n/a |
| EPS, basic | ₹2.16 | ₹2.49 | ₹0.26 | +730.8% |
| EPS, diluted | ₹2.16 | ₹2.49 | ₹0.26 | +730.8% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 0.84 | 0.91 | 0.01 | |
| Debt service coverage | 2.95 | 0.65 | 0.02 | |
| Interest service coverage | 5.22 | 4.80 | 0.03 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Tata Steel India | 35,578 | 49.6% | 7,940 | 22.3% |
| Neelachal Ispat Nigam Limited | 1,563 | 2.2% | 351 | 22.4% |
| Other Indian Operations | 2,836 | 4.0% | 243 | 8.6% |
| Tata Steel Netherlands Operations | 14,001 | 19.5% | 570 | 4.1% |
| Tata Steel UK Operations | 5,536 | 7.7% | -742 | -13.4% |
| Other Trade Related Operations | 9,894 | 13.8% | 39 | 0.4% |
| South East Asian Operations | 1,906 | 2.7% | 194 | 10.2% |
| Rest of the World | 385 | 0.5% | 9 | 2.4% |
| Inter Segment Eliminations | -14,697 | n/a | -296 | n/a |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 55,682 | 55,312 | 58,687 | 54,771 | 53,905 | 53,648 | 56,218 | 53,178 | 58,689 | 57,002 | 63,270 | 60,794 |
| Expenses | 55,853 | 53,351 | 56,497 | 52,389 | 52,332 | 52,118 | 54,168 | 50,347 | 54,461 | 53,599 | 58,502 | 56,940 |
| Operating profit | 4,268 | 6,264 | 6,601 | 6,694 | 6,141 | 5,903 | 6,559 | 7,428 | 8,897 | 8,200 | 9,829 | 9,264 |
| OPM % | 8% | 11% | 11% | 12% | 11% | 11% | 12% | 14% | 15% | 14% | 16% | 15% |
| Other income | 228 | 228 | 176 | 260 | 599 | 221 | 461 | 289 | 364 | 501 | 248 | 233 |
| Interest | 1,959 | 1,881 | 1,842 | 1,777 | 1,971 | 1,804 | 1,789 | 1,852 | 1,775 | 1,747 | 1,792 | 1,771 |
| Depreciation | 2,480 | 2,422 | 2,568 | 2,535 | 2,597 | 2,569 | 2,720 | 2,744 | 2,893 | 3,049 | 3,268 | 3,640 |
| Exceptional items | -6,899 | -334 | -594 | -358 | 18 | -126 | -389 | -132 | -420 | -140 | -340 | -345 |
| Profit before tax | -6,842 | 1,855 | 1,772 | 2,284 | 2,190 | 1,625 | 2,123 | 2,987 | 4,172 | 3,765 | 4,676 | 3,741 |
| Tax % | n/a | 76% | 71% | 64% | 64% | 85% | 47% | 35% | 25% | 30% | 39% | 39% |
| Net profit | -6,511 | 522 | 555 | 919 | 759 | 295 | 1,201 | 2,007 | 3,183 | 2,730 | 2,965 | 2,385 |
| EPS in ₹ | -₹5.08 | ₹0.42 | ₹0.49 | ₹0.77 | ₹0.67 | ₹0.26 | ₹1.04 | ₹1.67 | ₹2.49 | ₹2.16 | ₹2.34 | ₹1.86 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 6 February 2026: the result statement. All of Tata Steel Ltd.'s results: NSE company page.
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