Commenting on the results, Mr. Koushik Chatterjee, Executive Director and Chief Financial Officer, added: "With respect to the UK transition, we are proceeding as per previously announced timelines for the closure of the heavy end, a step which is critical to address the deep cash burn associated with the upstream end of life assets. We are also on track with regard to supply chain preparedness for imports of semi-finished steel which will be utilized by the downstream assets to continue to service customers, after the closure of the blast furnaces.

 We are proceeding as per previously announced timelines for the closure of the heavy end, a step which is critical to address the deep cash burn associated with the upstream end of life assets

We are fully committed to supporting affected employees, have offered the best ever package of support in Tata Steel UK, and continue to engage deeply with the Unions

CEO and MD Mr TV Narendran added: "In the UK, we have safely ceased operations at one of the blast furnaces (BF5) at Port Talbot and are on track to close the remaining blast furnace by September 2024. We are committed to supporting affected employees alongside providing multiple training and community support schemes." 

 *Earnings Before Interest Tax Depreciation and Amortisation

Full results are available here: Tata Steel reports Consolidated EBITDA of Rs 6,822 crores for the quarter ended June 30, 2024