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Tata Steel posts strong Q3 growth as India drives record profits
MUMBAI: While the rest of the world’s steel markets were feeling a bit rusty, Tata Steel proved it has a backbone of iron. The company’s latest financial results show it is well and truly metalling with success, reporting a consolidated Ebitda of Rs 8,309 crores for the October to December 2025 quarter. This performance helped the group’s nine-month earnings reach a staggering Rs 24,894 crores, marking a 31 per cent year-on-year improvement despite a global environment that remains, quite literally, under pressure.
The star of the show remains the Indian business, which carried the heavy lifting for the group. For the first time in its history, Tata Steel India surpassed the 6-million-ton delivery mark in a single quarter. Crude steel production in the region rose 12 per cent to 6.34 million tons, while deliveries grew even faster at 14 per cent year-on-year.
This surge in volume translated into revenues of Rs 35,725 crores for the quarter, with an Ebitda margin of 23 per cent. The company’s automotive segment saw a 20 per cent jump in volumes, and its digital platforms, Aashiyana and DigECA, recorded a Gross Merchandise Value of Rs 2,380 crores, up 68 per cent compared to the previous year.
While India is firing on all cylinders, the European operations present a more tempered picture. In the Netherlands, revenues hit Rs 11,572 crores for the quarter, with Ebitda nearly tripling over the nine-month period to Rs 1,800 crores.
Across the English Channel, the UK operations are still cooling down. Tata Steel UK reported a quarterly Ebitda loss of Rs 730 crores on revenues of Rs 5,665 crores. Deliveries in the UK stood at 0.52 million tons, hampered by what the company described as “subdued demand and steady imports”.
To keep the balance sheet as stainless as its products, Tata Steel has been on a rigorous cost-transformation diet. The program delivered savings of roughly Rs 3,000 crores this quarter alone, bringing the nine-month total to Rs 8,600 crores.
This fiscal discipline is paying dividends elsewhere. The group’s net debt declined by Rs 5,206 crores during the quarter to finish at Rs 81,834 crores. Total group liquidity remains robust at Rs 44,062 crores.
The company isn’t just resting on its girders; it is actively expanding. Capital expenditure for the quarter hit Rs 3,291 crores, with major projects including the 4.8 MTPA expansion at Neelachal Ispat Nigam Limited (NINL) and a new 0.75 MTPA electric arc furnace in Ludhiana.
“Our global operating environment continues to be shaped by tariffs and geopolitical shifts,” noted CEO and managing director T. V. Narendran. Despite the flood of Chinese exports hitting a record 119 million tons, Tata Steel appears to have found the right alloy of cost control and domestic growth to keep its momentum rolling.
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FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
