Tata Steel Long back in the black in Q3, posts PAT of Rs 304 cr; stk up 13%

The company has posted a consolidated net loss of Rs 112 crore in the year-ago quarter

Shares of Tata Steel Long Products hit a fresh 52-week high of Rs 810, zooming 13 per cent on the BSE on Friday, after the company reported a consolidated net profit of Rs 304 crore for the quarter ended December 2020 (Q3FY21), on the back of strong operational performance. The Tata group company had posted a consolidated a net loss of Rs 112 crore in December 2019 quarter (Q3FY20).

The company's revenue from operations grew 37 per cent YoY at Rs 1,364 crore as against Rs 999 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation,