• Wed. Feb 28th, 2024
Tata Steel Q1 Results: Net profit falls 92% to Rs 633.95 crore.

Tata Steel Ltd on Monday reported a 92% year-on-year decline in consolidated net profit (attributable to the company’s owners) in the first quarter of the fiscal year ended June (Q1FY24). 633.95 crores. The company had posted a profit It was Rs 7,764.96 crore in the corresponding period last year. Sequentially, consolidated net profit fell 63% 1,704.86 crore in the fourth quarter. Tata Steel shares closed 115.45 on the BSE, down 1.03%.

Tata Steel Ltd on Monday reported a 92% year-on-year decline in consolidated net profit (attributable to the company’s owners) in the first quarter of the fiscal year ended June (Q1FY24). 633.95 crores. The company had posted a profit It was Rs 7,764.96 crore in the corresponding period last year. Sequentially, consolidated net profit fell 63% 1,704.86 crore in the fourth quarter. Tata Steel shares closed 115.45 on the BSE, down 1.03%.

The company’s consolidated gross income from operations was down 6.21% year over year It was Rs 59,489.66 crore in the quarter ended June 63,430.07 crore in the first quarter of 23 years. The steel major’s earnings were impacted by lower volumes, partially offset by higher realizations across geographies.

The company’s consolidated gross income from operations was down 6.21% year over year It was Rs 59,489.66 crore in the quarter ended June 63,430.07 crore in the first quarter of 23 years. The steel major’s earnings were impacted by lower volumes, partially offset by higher realizations across geographies.

The company’s consolidated profit after tax (PAT) was 525 crores. Profit was impacted by a non-cash deferred tax charge related to the buy-in transaction in the British Steel Pension Scheme. With this, Tata Steel UK has been successfully derided following its purchase of British Steel Pension Scheme (BSPS) insurance, the company said in an exchange filing.

The company’s consolidated profit after tax (PAT) was 525 crores. Profit was impacted by a non-cash deferred tax charge related to the buy-in transaction in the British Steel Pension Scheme. With this, Tata Steel UK has been successfully derided following its purchase of British Steel Pension Scheme (BSPS) insurance, the company said in an exchange filing.

Total revenue has decreased 60,666.48 crore in the first quarter. It stopped there It was Rs 63,698.15 crore in the corresponding period last year.

Total revenue has decreased 60,666.48 crore in the first quarter. It stopped there It was Rs 63,698.15 crore in the corresponding period last year.

In the quarter ended June, consolidated total expenses rose 12.8% 58,553.25 crore from Rs 51,912.17 in Q1FY23. Sequentially, it fell 2.3% from 59,918.15 crore in Q4FY23.

In the quarter ended June, consolidated total expenses rose 12.8% 58,553.25 crore from Rs 51,912.17 in Q1FY23. Sequentially, it fell 2.3% from 59,918.15 crore in Q4FY23.

During the quarter under review, raw material prices were broadly similar as the increase in India was offset by the decline in Europe due to relining of one of the blast furnaces, the company said. Raw material prices remained stagnant during the quarter 25,961 crore as compared to Rs 25,988 crore in the fourth quarter.

During the quarter under review, raw material prices were broadly similar as the increase in India was offset by the decline in Europe due to relining of one of the blast furnaces, the company said. Raw material prices remained stagnant during the quarter 25,961 crore as compared to Rs 25,988 crore in the fourth quarter.

The company also disclosed that total capital expenditure increased during the quarter 4,089 crore. Expansion of 5 MTPA facility at Kalinganagar and 0.75 MTPA EAF mill at Punjab is in progress.

The company also disclosed that total capital expenditure increased during the quarter 4,089 crore. Expansion of 5 MTPA facility at Kalinganagar and 0.75 MTPA EAF mill at Punjab is in progress.

According to the company’s BSE filing, its earnings before interest, tax, depreciation and amortization (EBITDA) for Q1FY24 6,122 crore and EBITDA margin at 10%.

According to the company’s BSE filing, its earnings before interest, tax, depreciation and amortization (EBITDA) for Q1FY24 6,122 crore and EBITDA margin at 10%.

“Tata Steel consolidated earnings for the quarter 59,490 crore and consolidated EBITDA of Rs 6,122 crore, which translates into EBITDA per tonne 8,503. Despite a moderation in global steel penetration, our margin remained stable at around 10%. The Indian business generated higher margins of around 22% and EBITDA remained flat 7,514 crore. Isolation income stopped 32,342 crore was EBITDA 7,348 crore, which translates into EBITDA per tonne of approx 15,895.

“Tata Steel consolidated earnings for the quarter 59,490 crore and consolidated EBITDA of Rs 6,122 crore, which translates into EBITDA per tonne 8,503. Despite a moderation in global steel penetration, our margin remained stable at around 10%. The Indian business generated higher margins of around 22% and EBITDA remained flat 7,514 crore. Isolation income stopped 32,342 crore was EBITDA 7,348 crore, which translates into EBITDA per tonne of approx 15,895.

In Europe, margins were similar on a QoQ basis as increases in revenue per tonne were offset by lower volumes and higher input costs. In the UK, a buy-in deal for the remaining liabilities of the British Steel Pension Scheme has been completed, scoffing Tata Steel UK. Volatility in the steel market has impacted working capital and cash flow, but we remain committed to growth and spending in India. 4,089 crore in capital expenditure during the quarter.

In Europe, margins were similar on a QoQ basis as increases in revenue per tonne were offset by lower volumes and higher input costs. In the UK, a buy-in deal for the remaining liabilities of the British Steel Pension Scheme has been completed, scoffing Tata Steel UK. Volatility in the steel market has impacted working capital and cash flow, but we remain committed to growth and spending in India. 4,089 crore in capital expenditure during the quarter.

This led to total indebtedness 71,397 crores. Group liquidity position remains strong 30,569 crore, which includes 19,043 crore in cash and cash equivalents. We are focused on cost optimization, operational improvements and working capital management to maximize cash flow. Sustainability is at the core of our strategy, which includes providing comprehensive disclosures,” said Kaushik Chatterjee, executive director and chief financial officer of the company.

This led to total indebtedness 71,397 crores. Group liquidity position remains strong 30,569 crore, which includes 19,043 crore in cash and cash equivalents. We are focused on cost optimization, operational improvements and working capital management to maximize cash flow. Sustainability is at the core of our strategy, which includes providing comprehensive disclosures,” said Kaushik Chatterjee, executive director and chief financial officer of the company.

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