Tata Steel shares up by 4% following strong March quarter results

News24

LAST UPDATED: April 22, 2021, 1:19 p.m.

New Delhi (Anish Yande): Shares of Tata Steel opened at Rs 899 per share rising to Rs 926 per share. The shares rose to an intraday high of Rs 937 per share.  Tata Steel BSL, a subsidiary of Tata Steel, recorded a rise in shares to Rs 61.25 per share. The shares rose by 6 percent reaching an intraday high of Rs 61 per share.  

Tata Steel BSL March quarterly results:

Tata Steel BSL’s recorded consolidated net profit at Rs 913 crore in Q3FY21. The consolidated net profit of Tata Steel rose to Rs 1,913 crore in Q4FY21, at an increase of more than double in net profit. 

The consolidated revenue from operations was recorded at Rs 5,881 crore in the December quarter (Q3FY21). Tata Steel’s consolidated revenue from operations rose to Rs 7,321 crore, at an increase of 24 percent in the March quarter (Q4FY21).

Tata Steel BSL’s total income was announced at Rs 4,288.87 crore in the previous fiscal. The total income rose to Rs 7,348.66 crore in the March quarter of the current fiscal. 

The expenses of Tata Steel BSL rose to Rs 5,434.93 crore as compared to Rs 4,282.19 crore in the corresponding quarter of the previous fiscal.

Tata Steel BSL’s earnings before interest, taxes, depreciation and amortization (Ebitda) rose to Rs 257 crore, at an increase of 25 percent.

Tata Steel Long Products financial performance:

Tata Steel Long Products recorded net sales at Rs. 1,008.30 crore in March 2020 quarter. The steel manufacturer posted a rise in net sales at Rs 1,546.74 crore in the March 2021 quarter. 

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The net profit for Tata Steel Long Products was recorded at Rs 133.23 crore in March 2020 quarter. Tata Steel Long Products’ net profit rose to Rs 339.86 crore in the March 2021 quarter, at an increase of 355.09 percent.

The operational revenue of Tata Steel Long Products was recorded at Rs 1,546 crore, at an increase of 53 percent during the March quarter. The total expenditure of the steel manufacturer rose from Rs 1,026 crore in the previous fiscal to Rs 1,179 crore during Q4FY21. 

Earnings before interest, depreciation, taxation, and amortization were announced at Rs 155.22 crore in the March quarter of the previous fiscal. The EBITDA rose to Rs 513.30 crore in the March quarter of 2021.

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