Latest news with #KoushikChatterjee
Time of India
01-08-2025
- Business
- Time of India
Tata Steel to continue cost reduction drive amid transition in Europe: CFO Koushik Chatterjee
Tata Steel will continue its cost takeout programme through the remainder of the ongoing financial year to support profitability, Chief Financial Officer and Executive Director Koushik Chatterjee said on Thursday. As per PTI , the announcement follows a more than two-fold increase in the company's consolidated net profit for the June quarter to ₹2,007.36 crore, despite global macroeconomic uncertainty. The increase was attributed to higher net steel realisations and the impact of planned cost reduction measures. Ongoing strategy amid market conditions 'The strong improvement in our Q1 performance on QoQ as well as YoY basis was driven by an increase in our net steel realisations and the planned cost takeouts,' said CEO and Managing Director T V Narendran . Chatterjee said margins improved sequentially by around 200 basis points in Q1, and the company will continue its efforts to control costs in the coming quarters. 'The cost takeout will continue... So hopefully we should be in good space unless there is some big issues, not in India, but European tariff and trade issues play differently,' he said. The company has been targeting ₹11,500 crore (approximately $1.3 billion) in cost takeouts across India and Europe, focusing on controllable costs. The move comes at a time when Tata Steel is expanding its Indian operations and is undergoing a transition in Europe, including restructuring at its UK operations. Volume outlook, tariff impact Narendran said Tata Steel expects higher volumes in India in Q2, although realisations are likely to be ₹2,000 per tonne lower compared to Q1. In the Netherlands and the UK, revenue per tonne is expected to remain stable or increase slightly, with no anticipated drop in volumes. Consolidated revenues are expected to improve in Q2, though the company said it is too early to offer guidance for Q3 and Q4. On the recent US tariff announcements, Narendran said the company will not be materially impacted as it does not export from India to the US. 'Indirectly, also maybe some of the company's customers to whom it sells steel to export to the US, but it's not a big material number. So there is no material impact on tariffs,' he said. Tata Steel has been navigating a prolonged period of industry headwinds, particularly in Europe, where the company is restructuring its operations in response to regulatory, cost, and energy-related challenges.
Economic Times
31-07-2025
- Business
- Economic Times
Cost takeout to continue in coming quarters to maintain profitability: Tata Steel CFO
Tata Steel will continue with its cost takeout programme in the coming quarters of the ongoing fiscal year in a bid to maintain profitability, the company's Chief Financial Officer (CFO) Koushik Chatterjee said on Thursday. The Tata Group entity on Wednesday saw its consolidated net profit more than doubled to Rs 2,007.36 crore during the June quarter, despite volatile global macro conditions and heightened uncertainty. "The strong improvement in our Q1 performance on QoQ as well as YoY basis was driven by an increase in our net steel realisations and the planned cost takeouts," Tata Steel CEO & MD T V Narendran said. In financial terms, cost takeout refers to strategic cost reduction measures taken by companies by removing unnecessary expenses to improve profitability and efficiency. Tata Steel has delivered resilient performance and sequentially improved margins by around 200 bps despite challenging demand and uncertainty on trade and tariffs, said Chatterjee, who is also the Executive Director (ED) of Tata Steel. Asked for strategies for the remaining FY25 to maintain profitability, the CFO said "...the cost takeout will continue... So hopefully we should be in good space unless there is some big issues, not in India, but European tariff and trade issues play differently." Consolidated revenues are expected to continue to improve and increase as far as Q2 is concerned, while it is too early to talk about Q3 and Q4 at this point of time, he said. Narendran said "going forward we expect the volumes to go up but the revenue at least in India rupees per tonne will come down. We are saying that this quarter (Q2) will be about Rs 2,000/tonne below Q1, but the volumes will be higher in India. In the Netherlands and the UK the revenues will not come down per tonne, may go up a little bit more and volumes should also not come down." On the US' tariff announcement, the CEO said Tata Steel is not statistically impacted in any material way as its doesn't export to the US from India. So there's no direct impact. Indirectly, also maybe some of the company's customers to whom it sells steel to export to the US, but it's not a big material number. So there is no material impact on tariffs, he added. Tata Steel, which is expanding operations in India and is in a transition phase in Europe, is targeting cost takeouts of Rs 11,500 crore (about USD 1.3 billion) across geographies by focusing on controllable costs.
Time of India
31-07-2025
- Business
- Time of India
Cost takeout to continue in coming quarters to maintain profitability: Tata Steel CFO
Tata Steel will continue with its cost takeout programme in the coming quarters of the ongoing fiscal year in a bid to maintain profitability, the company's Chief Financial Officer (CFO) Koushik Chatterjee said on Thursday. The Tata Group entity on Wednesday saw its consolidated net profit more than doubled to Rs 2,007.36 crore during the June quarter, despite volatile global macro conditions and heightened uncertainty. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Degree Management Digital Marketing Data Science Technology Finance Cybersecurity Public Policy Data Analytics Others Operations Management MCA Project Management PGDM Leadership Design Thinking others healthcare Product Management Artificial Intelligence Healthcare Data Science CXO Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details "The strong improvement in our Q1 performance on QoQ as well as YoY basis was driven by an increase in our net steel realisations and the planned cost takeouts," Tata Steel CEO & MD T V Narendran said. In financial terms, cost takeout refers to strategic cost reduction measures taken by companies by removing unnecessary expenses to improve profitability and efficiency. Tata Steel has delivered resilient performance and sequentially improved margins by around 200 bps despite challenging demand and uncertainty on trade and tariffs, said Chatterjee, who is also the Executive Director (ED) of Tata Steel. Live Events Asked for strategies for the remaining FY25 to maintain profitability, the CFO said "...the cost takeout will continue... So hopefully we should be in good space unless there is some big issues, not in India, but European tariff and trade issues play differently." Consolidated revenues are expected to continue to improve and increase as far as Q2 is concerned, while it is too early to talk about Q3 and Q4 at this point of time, he said. Narendran said "going forward we expect the volumes to go up but the revenue at least in India rupees per tonne will come down. We are saying that this quarter (Q2) will be about Rs 2,000/tonne below Q1, but the volumes will be higher in India. In the Netherlands and the UK the revenues will not come down per tonne, may go up a little bit more and volumes should also not come down." On the US' tariff announcement, the CEO said Tata Steel is not statistically impacted in any material way as its doesn't export to the US from India. So there's no direct impact. Indirectly, also maybe some of the company's customers to whom it sells steel to export to the US, but it's not a big material number. So there is no material impact on tariffs, he added. Tata Steel, which is expanding operations in India and is in a transition phase in Europe, is targeting cost takeouts of Rs 11,500 crore (about USD 1.3 billion) across geographies by focusing on controllable costs. Economic Times WhatsApp channel )
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Business Standard
31-07-2025
- Business
- Business Standard
Cost takeouts to continue as Tata Steel eyes steady profitability: CFO
Tata Steel will continue with its cost takeout programme in the coming quarters of the ongoing fiscal year in a bid to maintain profitability, the company's Chief Financial Officer (CFO) Koushik Chatterjee said on Thursday. The Tata Group entity on Wednesday saw its consolidated net profit more than doubled to ₹2,007.36 crore during the June quarter, despite volatile global macro conditions and heightened uncertainty. "The strong improvement in our Q1 performance on QoQ as well as YoY basis was driven by an increase in our net steel realisations and the planned cost takeouts," Tata Steel CEO & MD T V Narendran said. In financial terms, cost takeout refers to strategic cost reduction measures taken by companies by removing unnecessary expenses to improve profitability and efficiency. Tata Steel has delivered resilient performance and sequentially improved margins by around 200 bps despite challenging demand and uncertainty on trade and tariffs, said Chatterjee, who is also the Executive Director (ED) of Tata Steel. Asked for strategies for the remaining FY25 to maintain profitability, the CFO said "...the cost takeout will continue... So hopefully we should be in good space unless there is some big issues, not in India, but European tariff and trade issues play differently." Consolidated revenues are expected to continue to improve and increase as far as Q2 is concerned, while it is too early to talk about Q3 and Q4 at this point of time, he said. Narendran said "going forward we expect the volumes to go up but the revenue at least in India rupees per tonne will come down. We are saying that this quarter (Q2) will be about ₹2,000/tonne below Q1, but the volumes will be higher in India. In the Netherlands and the UK the revenues will not come down per tonne, may go up a little bit more and volumes should also not come down." On the US' tariff announcement, the CEO said Tata Steel is not statistically impacted in any material way as its doesn't export to the US from India. So there's no direct impact. Indirectly, also maybe some of the company's customers to whom it sells steel to export to the US, but it's not a big material number. So there is no material impact on tariffs, he added. Tata Steel, which is expanding operations in India and is in a transition phase in Europe, is targeting cost takeouts of ₹11,500 crore (about USD 1.3 billion) across geographies by focusing on controllable costs.
Time of India
31-07-2025
- Business
- Time of India
Tata Steel Q1 net profit more than doubles to ₹2,007 crore
Tata Steel reported a consolidated net profit of ₹2,007.3 crore for the quarter ended June 2025, more than double the ₹1,014.6 crore reported in the same period last year. The increase was driven by reduced losses in its UK business and improved profitability in India. The figure exceeded market expectations, according to The Economic Times . The company's consolidated revenue from operations fell 2.9 per cent year-on-year to ₹53,178 crore, while consolidated sales volumes dropped 3.6 per cent to 7.12 million tonnes. In India, steel sales were at 4.75 million tonnes, lower than the 4.94 million tonnes sold a year ago. 'The G blast furnace relining in Jamshedpur is at an advanced stage of completion and with Kalinganagar ramping up, India volumes are expected to be sequentially higher in the next quarter,' said chief financial officer Koushik Chatterjee. UK losses narrow, Netherlands operations improve Revenues from Tata Steel's UK operations declined to ₹6,096 crore from ₹6,810 crore in the same quarter last year. However, EBITDA -level losses narrowed to ₹468 crore from ₹955 crore. In the Netherlands, the company reported an EBITDA of ₹612 crore, up from ₹453 crore a year earlier. The EBITDA per tonne improved to ₹4,080 from ₹3,075. At the group level, EBITDA rose 10 per cent year-on-year to ₹7,480 crore, with operating margins at 14 per cent. EBITDA per tonne improved to ₹10,470 from ₹9,407. In India, the adjusted Ebitda per tonne increased to ₹15,760 from ₹14,236, and margins stood at 24 per cent. 'Higher steel realisations offset the decline in volumes across geographies,' Chatterjee said. 'Our cost transformation programme, focused on multiple levers including operating KPIs, supply chain and procurement, has delivered around ₹2,900 crore during the quarter.' Capex and debt position The company incurred capital expenditure of ₹3,829 crore during the quarter. Its net debt stood at ₹84,835 crore at the end of June, up from ₹82,579 crore at the end of March. Tata Steel had earlier indicated that it was working on restructuring its European operations, particularly in the UK, amid efforts to transition to low-emission steel production. The narrowing losses in the UK come after workforce reduction announcements linked to the closure of blast furnaces in Port Talbot.
