New Delhi, Nov. 7 -- Tata Steel Ltd's net profit beat Street estimates in the September quarter (Q2FY27), aided by strong demand and cost-saving measures.

The Mumbai-headquartered steelmaker reported an 18% year-on-year (y-o-y) increase in consolidated net profit to Rs.3,666.41 crore in Q2FY27, according to an exchange filing on Saturday. The company beat Bloomberg's consensus estimate of Rs.3,253.7 crore based on a poll of 12 analysts.

The company also announced that Noel Naval Tata will retire as the non-executive, non-independent director and vice chairman of the board, effective close of business hours on 11 November. It is yet to announce a new vice chairman.

India's second largest steelmaker by capacity delivered cost savings of ...