Tata Steel reported almost 11.47% growth in gross revenues for the Dec-20 quarter on consolidated basis at Rs39,594cr. In the Dec-20 quarter, the recovery in global steel demand and prices led to a growth in top line across various operations. Apart from core steel operations of Tata Steel, recent NCLT acquisitions like Tata Steel BSL and Tata Steel Long Products also showed good traction. Surprisingly, Tata Steel Europe also grew positively yoy.
For the Dec-20 quarter, the consolidated operating profits were up 4-foldat Rs7,189cr. The company saw sharp savings in cost of materials consumed as well as inventory costs leading to improved operating profits in the quarter. OPM expanded 4-fold from 4.51% in Dec-19 quarter to 18.16% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter turned around to a profit of Rs.3,678 crore compared to a net loss of Rs-1,029cr in the Dec-19 quarter. This was on account of an exceptional charge of Rs2,798cr that Tata Steel took in the Dec-19 quarter towards discontinued operations. PAT margins turned around to a positive level of 9.29% in the Dec-20 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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Tata Steel |
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|
Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 39,594 |
₹ 35,520 |
11.47% |
₹ 37,154 |
6.57% |
|
Operating Profit (Rs cr) |
₹ 7,189 |
₹ 1,601 |
349.00% |
₹ 3,850 |
86.74% |
|
Net Profit (Rs cr) |
₹ 3,678 |
₹ -1,029 |
N.A. |
₹ 1,665 |
120.90% |
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|
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Diluted EPS (Rs) |
₹ 31.86 |
₹ -9.91 |
|
₹ 13.23 |
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|
OPM |
18.16% |
4.51% |
|
10.36% |
|
|
Net Margins |
9.29% |
-2.90% |
|
4.48% |
|
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