The company’s revenue from operations stood at Rs 57,002 crore in Q3FY26, up 6% over Rs 53,648 crore posted in the corresponding period of the last financial year.
The PAT, though fell 13% sequentially compared to Rs 3,102 crore in Q2FY26 amid a 3% drop in its topline from Rs 58,689 crore posted in the July-September quarter of FY26.
The Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs 8,309, rising 39% YoY while the margin was reported around 15%.
Tata Steel’s India revenues stood at Rs 35,725 crores and EBITDA was Rs 8,291 crores, which translates to a margin of 23%. Crude steel production was up 12% YoY to 6.34 million tons. The company claimed that its improved production led to ‘best-ever quarterly’ deliveries to the tune of 6.04 million tons, up 14% YoY.
The Netherlands revenues were €1,354 million and EBITDA was €55 million. Liquid steel production was 1.68 million tons and deliveries were 1.40 million tons.
Meanwhile, UK revenues were £468 million and EBITDA loss stood at £63 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand and steady imports.The company spent Rs 3,291 crores on capital expenditure during the quarter and Rs 10,370 crores in 9MFY26.
Its net debt declined by Rs 5,206 crores QoQ to Rs 81,834 crores.
In December 2025, Tata Steel board affirmed the long-term growth strategy for India business where the company said that it will prioritise investments for volume growth, value added downstream portfolio, identified mining assets and infrastructure to serve the needs of the India business.
As part of the above stated objective, Tata Steel has consolidated its stake in color-coated business, Tata Steel Colors Pvt Ltd. The company also completed the acquisition of 50.01% stake in Thriveni Pellets Private Limited, which in turn holds 100% equity stake in Brahmani River Pellets Private Limited.
Management speak
Commenting on the Q3 earnings, Chief Executive Officer & Managing Director T V Narendran said that company’s global operating environment continues to be shaped by tariffs, geopolitical shifts and policy divergence.
Steel markets were impacted by elevated finished steel exports from China, which at 119 million tons surpassed the 2015 peak. Against this backdrop, Tata Steel delivered a strong performance in this quarter, with India crude steel production rising 12% while deliveries grew faster at 14% YoY, surpassing the 6 million tons mark in a quarter for the first time. We continued to strengthen our market leadership across chosen segments, supported by capacity expansion and a focused downstream strategy,” Narendran said. Automotive volumes grew 20% YoY, while the retail vertical gained, he added.
“In our overseas operations, deliveries stood at 0.52 million tons in the UK and 1.40 million tons in the Netherlands. Supportive policy frameworks are vital to transition to a more sustainable operating model. While the recent progress in Europe has supported sentiment, the UK market continues to be depressed, and the quota framework needs to be revised to reflect underlying market conditions,” the CEO & MD said.