According to insiders, Chatterjee shares a good rapport in the group, as well as with bankers, thanks to the fact that he was instrumental in raising finances for Tata Steel's $12.1-billion Corus acquisition.
Tata Steel reported a significant 124.9 per cent year-on-year increase in consolidated net profit to 2,925.74 crore for the fourth quarter of FY26, driven by higher volumes and an improved product mix in India, alongside planned cost reductions across its global operations.
This year's Economic Survey and the Union Budget were more closely followed for more reasons than one.
Tata Steel on Wednesday reported a 272 per cent year-on-year (Y-o-Y) jump in consolidated net profit, attributable to owners, at Rs 3,101.75 crore in the second quarter of 2025-26 (Q2FY26) led by higher sales volumes in India and planned cost takeouts across geographies.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
Tata Steel's consolidated net profit more than doubled to Rs 2,007.36 crore during the June quarter, on account of "increase in net steel realisations and the planned cost-takeouts" across geographies. The Tata Group entity had posted a net profit of Rs 918.57 crore in the year-ago period.
'The steel industry has a multiplier effect on direct and indirect employment, national security on the supply chain, technology access etc.'
Mumbai off to flourishing start in SMAT, beat Railways by 7 wickets
Ignored Karun Nair hits 2nd ton to take Karnataka to 319/3 against Kerala in the Ranji Trophy.
Speaking on the sidelines of CII annual regional meeting in Kolkata on Tuesday, Tata Steel group CFO Koushik Chatterjee confirmed that production cut continues to be around 40 per cent. Exuding confidence that the company will be able to save 600 million pounds by March as envisaged, Chatterjee said, "The cost saving measures are on track at Corus in line with the target."
At a time when software companies were reporting disappointing results on account of this, an unperturbed Chatterjee said Tata Steel would reap significant benefits from the new exchange rate, which would be disclosed with its results.
New MD likely to be announced by December-end or first week of January.
Tata Steel, India's largest steelmaker, has consolidated all its overseas assets including Corus under a new holding company, Tata Steel Global, to raise funds for its overseas expansion including future acquisitions.
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
'In India, mega projects in any sector face initial hurdles. That's a reality for all companies or sectors. We need to have the tenacity and perseverance, which we have,' says Koushik Chatterjee, CFO, Tata Steel.
The company said it had extended financial support to the UK business.
Roundup of matches across various venues in the Ranji Trophy 2024-25
Roundup of matches across the country in the ongoing BCCI Ranji Trophy
Cheteshwar Pujara's presence did not help Saurashtra as a gritty Tripura humbled the defending champions
Shreyas Iyer continued with his red-hot form, smashing a stroke-filled 233 to lead Mumbai to a massive 602/4 declared in their Ranji Trophy Elite Group A match against Odisha.
Roundup for Ranji Trophy matches played on Friday
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
Veteran medium pacer Nilkantha Das has also been included and even opener Sudip Gharami, despite a season of non-performance has made it to the squad.
The verdict could force steelmakers to cut output or import expensive iron ore.
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
Hiten Dalal scored a brisk 79 on debut before Himachal Pradesh fought back to reduce Delhi to 305 for eight at stumps on day one of a Group B Ranji Trophy match, in New Delhi, on Monday.
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
Saurashtra, led by the inspirational Jaydev Unadkat, will back themselves to win an elusive Ranji Trophy title at home but a buoyant Bengal will be no pushovers in what promises to be an absorbing final beginning, in Rajkot, on Monday. Both the teams are desperate to go all the way with Saurashtra reaching their fourth final in eight seasons while Bengal has not tasted success in the premier domestic event since the 1989-90 triumph.
This was Shorey's highest first-class score in 45 matches, with his previous best being 145. The double-century will do more good to his already healthy batting average of 48.49.
For MP, Saransh Jain, Kumar Kartikeya and Anubhav Agarwal also took two wickets apiece. MP got seven points from the win. The outright-winning team gets six points while a victory of an innings or 10-wickets fetches seven points.
Ravindra Jadeja, who was ignored for the ODI series against New Zealand, made a statement with an unbeaten 150 for Saurashtra on the first day of their Group B match against Jammu and Kashmir in the Ranji Trophy.
A round-up of Day 1 in the Ranji Trophy quarter-final matches.
The government has provided a long-term vision.
590 cricketers -- including 370 Indian players and 220 overseas players -- will go under the hammer during the two-day mega auction in Bengaluru on February 12 and 13.
Bengal batsmen cut a sorry figure on home turf to be bowled out for 147, giving Kerala an upperhand in their Ranji Trophy Elite Group B match at the Eden Gardens, in Kolkata, Tuesday.
Shikhar Dhawan was all guts and grit while negotiating tough conditions in his comeback game as he boosted Delhi's morale with a well-controlled 137 against Hyderabad in their Ranji Trophy Group A match in New Delhi. A round up of Day 1 of the Ranji Trophy matches played on Wednesday.
A summary of all the Ranji Trophy matches played on Sunday
Cheteshwar Pujara missed out on a second successive double hundred but his 182 went a long way in Saurashtra piling up a mammoth 570 in their first innings against Gujarat on the second day of the Ranji Trophy.
Swapnil Singh broke an eleven-year jinx as he scored his maiden first class century, a knock of 164 without a blemish, to help Baroda take a massive first innings lead of 404 runs against Mumbai on Day 3 of the Ranji Trophy Group C match.
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