Tata Steel Q3 results: Tata Steel on Friday posted a 54.33 per cent rise in consolidated net profit to Rs 1,753.07 crore during the quarter ended December as against Rs 1,135.92-crore for the same quarter a year ago.
Tata Steel Q3 results: Tata Steel on Friday posted a 54.33 per cent rise in consolidated net profit to Rs 1,753.07 crore during the quarter ended December as against Rs 1,135.92-crore for the same quarter a year ago. The company posted strong profit on account of rise in income in Q3.
Total income jumped to Rs 41,431.37 crore during Q3 from Rs 33,672.48 crore in the corresponding period of the last year, Tata Steel said in a regulatory filing. The total expenses were at Rs 38,362.03 crore as against Rs 30,552.03 crore in the same period of the previous fiscal.
Key figures in a nutshell:
Health and Safety: Lost Time injury frequency rate per mn man hours worked of Tata Steel group reduced to 0.47 in 9MFY19.
Consolidated steel production grew 11 per cent YoY to 7.23 mn tons and deliveries increased 7 per cent YoY to 6.99 million tons.
India’ steel production surged 34 per cent YoY to 4.38 million tons while deliveries grew 18 per cent YoY to 3.89 million tons from 3.30 million tons in 3QFY18.
Consolidated revenues increased 23 per cent YoY to Rs.41,220 crores; India’ revenues recorded 41 per cent YoY growth to Rs.22,063 crores as compared to Rs.15,596 crores in 3QFY18.
Consolidated adjusted EBITDA grew 27 per cent YoY to Rs.7,225 crores as compared to Rs.5,671 crores in 3QFY18.
Standalone adjusted EBITDA was Rs.4,872 crores and EBITDA margin stood at 28.4 per cent. Standalone EBITDA/t was Rs.16,407/t.
Consolidated PAT increased to Rs.1,753 crores as compared to Rs.1,136 crores in 3QFY18.
The liquidity position of the group remains robust at Rs.19,320 crores comprising of Rs.8,549 crores in cash and cash equivalents and Rs.10,771 crores in undrawn bank lines.
Gross debt decreased by Rs.9,083 crores during the quarter.