This Tata Company Beats TCS To Become #1 Profitable Company: Rs 109 Crore Profit Per Day In Last 90 Days!
The revered domestic steelmaker Tata Steel released its earnings results for the quarter ending March 2022 on Tuesday.
The steel making company managed to exceed the analysts’ estimate of consolidated revenue and net profit in the quarter.
The company’s board has recommended a dividend of Rs 51/share, and has approved a stock split in the ratio 10:1.
Here’s everything you need to know about Tata Steel’s earnings numbers for the March 31, 2022 ending quarter.
Consolidated Net Profit & Revenue Surge
The Tata Group company’s consolidated net profit surged 37.3% on a YoY basis to Rs 9,835.12 crore, compared to an estimated figure of Rs 9,462 crore pegged by Bloomberg for the March quarter.
At the same time, the company’s consolidated revenue jumped 39% YoY to Rs 69,323.50 crore in the quarter, compared to an estimate of Rs 66,195.50 crore by the Street.
Furthermore, the consolidated revenue of Tata Steel India surged 34% YoY to Rs 36,681 crore in Q4 FY22, and Tata Steel Europe’s revenue in the period jumped 53% YoY to Rs 26,389 crore.
“Tata Steel has again demonstrated its ability to deliver stellar results despite heightened complexity in the face of COVID as well as geopolitical tensions,” said the company’s CEO & MD T V Narendran.
Tata Steel’s consolidated profit in the whole year FY22 rallied 410% YoY to Rs 41,749 crore, while revenue grew 56% to Rs 2.44 lakh crore on a YoY basis.
In the financial year, Tata Steel India’s revenue grew 53% YoY at Rs 1.29 lakh crore, while Tata Steel Europe’s revenue jumped 61% YoY to Rs 90,023 crore.
Tata Steel’s EBITDA & Other Figures in March Quarter
The steelmaker’s earnings before interest, tax, depreciation, and amortisation or EBITDA advanced 6% YoY to Rs 15,174 crore, while EBITDA/ton rose 3.7% to Rs 18,937 in the quarter ending March.
Tata Steel in its Indian operations, recorded its highest-ever annual crude steel production of 19.06 million tons, a surge of 13%, surpassing deliveries of 18.2MT made during the financial year.
“We have closed the financial year with consistent and record operating and financial performance for the year, surpassing the previous best in FY21, with EBIDTA being 2x and Profit after Tax being >5x the previous year. This is despite the significant surge in international coal prices and the inflationary impact of various commodities,” said the company’s ED and CFO Koushik Chatterjee.