Tata Steel UK’s April to June 2024 quarterly results have been announced as a loss of £91 million* – a continuing loss of around £1million a day.
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

About Tata Steel UK
- The Tata Steel Group has been named one of the most ethical companies in the world, and is among the top producing global steel companies with an annual crude steel capacity of 34 million tonnes.
- Tata Steel in the UK has the ambition to produce net-zero steel by 2045 at the latest, and to have reduced 30% of its CO2 emissions by 2030.
- Tata Steel is the largest steelmaker in the UK with primary steelmaking at Port Talbot in South Wales supporting manufacturing and distribution operations at sites across Wales, England and Northern Ireland as well as Norway, Sweden, France and Germany. It also benefits from a network of international sales offices around the world.
- Tata Steel employs more than 8,000 people and has an annual crude steel capacity of 5 million tonnes, supplying high-quality steel products to demanding markets, including construction and infrastructure, automotive, packaging and engineering.
- Tata Steel Group is one of the world's most geographically-diversified steel producers, with operations and a commercial presence across the world.
Follow us on social media