Tata Steel Q1 Result
Tata Steel Q1 Result | Consolidated profit falls 13% YoY to Rs 7,765 cr.
Tata Steel Limited on July 25 declared a consolidated profit after tax (PAT) of Rs 7,765 crore for the quarter ended June 2022. The PAT was lower by 12.8 percent compared to a profit of Rs 8,907 crore recorded during the same quarter last year.
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On a sequential basis, the PAT witnessed a decline of 20.4 percent from Rs 9,756 crore achieved during the January – March quarter.
The consolidated revenues for the Tata Group company during the reported quarter, rose 18.6 percent to Rs 63,430 crore compared to the revenue of Rs 53,465 crore recorded during the year ago period. On a sequential basis, the consolidated revenues have declined 8.5 percent from Rs 69,324 crore during the previous quarter.
Tata Steel Q1 results: Revenue from the operations of the Tata Group’s steel manufacturing arm increased 18.6% YoY to ₹63,430 crore in Q1FY23 from ₹53,465 crore in the year-ago period
The performance for the quarter was impacted by the higher pet coke prices which resulted in an increase in operating costs, while the export duty imposed by the Government of India, choked up the exports which had a negative impact on the volumes.
Shares of Tata Steel closed Rs 11.45 lower at Rs 1,017.25 on July 25 on the NSE. The stock has declined 26 percent over the past one year but has gained 11.5 percent over the past one month.
Tata Steel Q1 Result
India’s leading steelmaker Tata Steel on Monday posted a 12.83% decline in consolidated net profit of ₹7,764.96 crore for the quarter ending 30 June, 2022. The steelmaker had posted a registered a PAT of ₹8,907 crore during the corresponding period last year.
On a sequential basis, the PAT witnessed a decline of 20.4% from ₹9,756 crore achieved during the January – March quarter.