Tata Steel has reported a 112.76 percent year-on-year rise in consolidated net profit at 1,954.02 crore for the quarter ended June 30. The company had posted a profit of 918.40 crore in the same quarter last year.
Analysts had projected a profit of 2,725 crore.
Consolidated revenues from operations increased to 37,832.79 crore for the quarter under review as against 30,973.33 crore in the same period last year.
The company reported an EBITDA of 6,559 crore for the quarter against 6,579 crore in the year ago quarter. Consolidated EBITDA margins came in at 17.3 percent for the quarter under review.
The company said the liquidity position of the group remains robust with approximately 24,984 crore comprising of 13,086 crore in cash and cash equivalents and 11,899 crore in undrawn bank lines. The capital expenditure for the June quarter stood at 1,931 crore.
“Tata Steel delivered strong performance on the back of strong steel demand and buoyant spreads. India domestic deliveries grew by 14 percent y-o-y, significantly higher than the market, which saw a 9 percent growth. All verticals saw strong growth, with our automotive and branded products segments contributing 19 percent and 33 percent of total volumes, respectively,” said T V Narendran, CEO & Managing Director.
Denne historien er fra September 2018-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 2018-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.