Tata Steel on reported a consolidated net profit of Rs 232 crore for the quarter ended December 31. The company had reported a net loss of Rs 2,748 crore during the same quarter of last fiscal. The company's turnover edged up 14.06 per cent to Rs 29,392 crore for the quarter under review from Rs 25,767 crore reported in the corresponding period of 2015-16. The company's consolidated gross debt stood at Rs 84,752 crore as on December 31.
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Net debt was Rs 76,680 crore. "Strong liquidity position with cash & cash equivalents, current investments including undrawn bank lines of Rs 15,000 crore," the statement said. On a standalone basis, Tata Steel's Q3 net profit rose by over 300 per cent to Rs 1,205 crore from Rs 298 crore. The standalone turnover increased by 39.04 per cent to Rs 14,106 crore for the quarter ended December 31 as compared to Rs 10,145 crore reported for the corresponding period of 2015-16.
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