Tata Steel Ltd. recorded a profit of 8.3 billion rupees ($99 million) in the second quarter, which was a 13% decrease compared to the previous quarter's profit of 9.6 billion rupees. This decline reflects the ongoing challenges in the market, including weak demand and falling prices for the alloy.
Despite the drop, the company's reported profit exceeded the average analyst estimates, indicating some resilience in its performance despite the tough market conditions. The results for the three months ending in September highlight the pressures faced by the steel industry as it deals with fluctuating demand dynamics.