Tata Steel Q1 results: Profit falls 12.8% to Rs 7,765 cr, revenue up 18.6%

For Europe, it was the highest ever quarterly EBITDA. Revenue per tonne increased by £154 QoQ to £1,248 per tonne due to long-term contracts and product mix

Tata Steel reported a consolidated net profit (attributable to the owners of the company) at Rs 7,765 crore for the quarter ended June, down 12.8 per cent over the year-ago period, in what the company described as a “challenging” quarter. Sequentially, net profit was down 20.4 per cent.

Revenue from operations at Rs 63,430 crore was higher by 18.6 per cent year-on-year (YoY). The numbers beat expectations on revenue and net profit. A poll of analysts by Bloomberg had estimated revenues at Rs 60,474 crore and net profit at Rs 7,275 crore. QoQ, revenues were down by 8.5 per cent.