Tata Steel rose 1.44% to Rs 577.40 at 10:37 IST on BSE after the company reported stellar result for Q1 June 2018 after market hours yesterday, 13 August 2018.
Meanwhile, the S&P BSE Sensex was up 160.50 points, or 0.43% to 37,805.40
On the BSE, 4.68 lakh shares were traded in the counter so far compared with average daily volumes of 5.29 lakh shares in the past two weeks. The stock had hit a high of Rs 587 and a low of Rs 575.20 so far during the day. The stock hit a 52-week high of Rs 755.12 on 15 January 2018. The stock hit a 52-week low of Rs 493.50 on 19 July 2018.
On a consolidated basis, Tata Steel reported 109.98% rise in profit after tax to Rs 1934 crore on 22.14% rise in turnover to Rs 37833 crore in Q1 June 2018 over Q1 June 2017.
Tata Steel India operations' EBITDA jumped by 75.2% to Rs 5118 crore in Q1 June 2018 over Q1 June 2017 on account of better realisations and improved operational efficiencies. EBITDA margin for the quarter was 31.2%.
Tata Steel European operations' EBITDA improved significantly by 42% QoQ to 183 million on account of higher selling price and better operational performance. Tata Steel South-East Asian operations' EBITDA increased by 15.3% QoQ to Rs 110 crore in Q1 June 2018 due to improved realisations and deliveries at NatSteel, partially offset by increase in input metallic cost.
T V Narendran, CEO & Managing Director said that Tata Steel delivered strong performance across all geographies on the back of strong steel demand and buoyant spreads. All verticals saw strong growth, with automotive and branded products segments now contributing to 19% and 33% of total volumes, respectively. Tata Steel Europe also saw stronger profitability with an improvement in spreads and operational performance.
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on 31 March 2018. It is one of the world's most geographically-diversified steel producers, with operations in 26 countries and a commercial presence in over 50 countries.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
