Tata Steel's Q3 net profit stood at ₹1,753 crore compared with ₹1,136 crore a year ago. For Tata Steel BSL, the integration is progressing smoothly, the company said, and the focus continues to be on ramping up production and realizing synergies. During Q3, Tata Steel and Germany's Thyssenkrupp AG “worked together to secure the required regulatory approvals for the proposed 50:50 joint venture in Europe. Upon completion of the transaction, Tata Steel's consolidated gross debt will come down by around $500 million. We have repaid ₹3,000 crore from Tata Steel BSL since the acquisition as part of the overall deleveraging," Chatterjee added.

Source: Mint February 08, 2019 13:07 UTC