Tata Steel Reported A Net Profit Of 9,768 Crore For The June Quarter.
Tata Steel’s first quarter results: Tata Steel reported a consolidated net profit of 9,768 crore, compared with a net loss of 4,648 crore in the same period last year.
Tata Steel announced its quarterly results from April to June for the 2021-22 fiscal year, reporting a consolidated net profit of 97.68 billion rupees, compared with a net loss of 46.48 billion rupees in the same period last year.
The country’s largest steel manufacturer’s operating income in the first quarter of this fiscal year was Rs 53,731.78 crore, compared with Rs 25,474 crore in the same period last year, an increase of 109% year-on-year. Despite being affected by the second wave of the COVID-19 pandemic, the company’s revenue almost doubled in the June quarter.
According to the regulatory documents submitted by the company to the stock exchange today, Tata Steel’s total revenue for the June quarter was 535.3104 crore, compared with 256.6243 crore in the same period last year. Year-on-year, but due to the impact of the second wave of pandemics, the June quarter fell 2.6% from the previous quarter to 4.63 million tons. Tata Steel reported the highest earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter, at Rs 13,946 crore.
The company’s total debt was reduced to 842.37 billion rupees, and its debt repayment was 58.94 billion rupees at the end of the June quarter, while the net debt was reduced to 739.73 billion rupees.
Despite the increase in working capital due to the increase in steel and raw material prices, the company generated more than 3.5 billion rupees in comprehensive free cash flow during the quarter and paid 5.894 crore debts,” said Tata Steel’s chief executive officer. Officer and Chief Financial Officer Koushik Chatterjee.
On Thursday, August 12, Tata Steel’s share price rose 0.60% to Rs 1,435 per share on the BSE.
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