Tata Steel reported a 36.37% year-on-year (YoY) drop in consolidated net profit to ₹326.64 crore for Q3FY25, down from ₹513.37 crore in the same period last year. Consolidated revenue declined by 3.01% YoY to ₹53,648.30 crore. Sequentially, revenue saw a slight dip of 0.48%, while net profit plunged by 60.81%.
CEO & MD of Tata Steel, T.V. Narendran, attributed the decline to geopolitical factors and a global economic slowdown. He noted that high steel exports from China, averaging 9 million tonnes per month in 2024, have pressured steel prices worldwide, including in India.
Deliveries in India rose 8% YoY to 5.29 million tonnes in Q3 and 6% YoY to 15.3 million tonnes in the first nine months of FY25. Revenue from Indian operations stood at ₹32,930 crore, down from ₹35,014 crore last year. Profit after tax (PAT) for India was ₹3,865 crore compared to ₹4,475 crore a year ago.
In the UK, revenue was 523 million pounds, and the EBITDA loss was 67 million pounds. Despite challenges, the EBITDA improved by 115 pounds per tonne quarter-on-quarter (QoQ), aided by cost reductions after shutting heavy-end assets in September 2024.
In the Netherlands, revenue was 1,282 million pounds, with nil EBITDA for the quarter.
The company spent ₹3,868 crore on capital expenditure during Q3FY25, bringing the April-December total to ₹12,450 crore. Net debt declined by approximately ₹3,000 crore QoQ to ₹85,800 crore.
Narendran highlighted progress in Kalinganagar, where a new blast furnace produced 0.56 million tonnes during the quarter and is ramping up production. Additionally, the continuous annealing line (CAL) in the 2.2 million tonnes per annum cold rolling mill complex was commissioned in December and has been approved by major automotive OEMs.
Tata Steel Limited, part of the Tata Group, is a multinational steel company from India. It is headquartered in Mumbai, Maharashtra, with main operations in Jamshedpur, Jharkhand.
As of January 28, 2025, at 9:54 AM IST, Tata Steel share price (NSE: TATASTEEL) is trading at ₹127.23, up ₹0.86 (0.68%) for the day. The stock opened at ₹126.37, reached a high of ₹128.63, and a low of ₹124.74 during the session.
It has a market capitalisation of ₹1.59 lakh crore, a P/E ratio of 54.07, and a dividend yield of 2.83%. The stock’s 52-week high is ₹184.60, while the 52-week low is ₹122.62.
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Published on: Jan 28, 2025, 9:59 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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