There has been a decline of more than 64 percent in the consolidated profits of the company as compared to last year. The company business income has fallen by 6 percent.
 |
| Tata Steel Result (Photo-Business Today) Tata Steel has released its quarterly results today. There has been a decline of more than 64 percent in the consolidated profits of the company as compared to last year. Company's business income has fallen by 6 percent. The company profit has been much less than the expectations. However, the income has been better than expected. The sharp decline in profits has been seen due to decline in income along with limited decline in expenses of 5.7 percent and exceptional items worth about Rs 600 Cr. The company has announced a dividend of Rs 3.6 per share to its investors. This dividend is 360 percent of the share having face value of Re 1. The dividend will be placed before the shareholders for approval in the AGM to be held on July 15, 2024. If approved, dividend will be paid on or from 19 July 2024. The company March quarter profit was Rs 554.6 crore, which was Rs 1566 crore a year ago. That means there has been a decline of 64.6 percent in profits. At the same time, the company's income has declined by 6.8 percent compared to last year and was Rs 58687 crore, which was Rs 62961 crore a year ago. There has also been a decline of 8.6 percent in EBITDA on year-on-year basis and EBITDA has fallen from Rs 7219 crore to Rs 6600.7 crore. Margins have been at 11.3 percent which was 11.5 percent a year ago. In terms of profits, the company's performance has been weaker than the estimates.The company's profit was 41 percent less than expected. At the same time, the income was about one percent above the estimates. EBITDA was 6.8 percent above estimates. The estimate for margin was 10.6 percent, however the margin has been 11.3 percent. |