Tata Steel’s net profit surges 75% on year; co to go ahead with UK closures

Tata Steel advanced with the closure of its heavy-end UK assets to halt cash losses. Although it reported a 75% year-on-year rise in net profit for the June quarter, UK operations continued to incur losses. The company now focuses on working capital stabilization, employee support, and securing grant funding for an electric arc furnace.

from Stocks-Markets-Economic Times https://ift.tt/4lBsPqZ