New Delhi, Jan. 31 -- Indian steel majors Tata Steel Ltd and JSW Steel Ltd experienced strong domestic demand in the December quarter (Q3FY25), which helped offset a 12-13% drop in realization for both companies.

Tata Steel's standalone Ebitda declined 8% year-on-year, but was 24% higher than analysts' estimates, supported by lower other expenses and 8% growth in volumes. Ebitda is earnings before interest, tax, depreciation and amortization; it is a key measure of profitability for companies.

Ebitda per tonne was still down 16% to Rs.14,200 due to lower realization and firm raw material prices. The company's European operations, accounting for 38% of consolidated revenue in the first nine months of FY25, recorded lower losses of Rs.740...