Published on 14/08/2020 10:34:12 AM | Source: Angel Broking Ltd

Quote on 1QFY21 results of Tata Steel Ltd by Jyoti Roy , Angel Broking

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Below is the Quote on 1QFY21 results of Tata Steel Ltd by Mr. Jyoti Roy , DVP- Equity Strategist, Angel Broking Ltd.

“Tata Steel reported a 32.4% YoY degrowth in consolidated revenues to ₹24,288 crore for Q4FY20, as compared to revenues of ₹35,947 crore for Q4FY19. Sales volume for the quarter was down by 22.2% YoY to 4.93mn Tons while production was down by 28.1% YoY to 5.14mn Tons. EBIDTA for the quarter stood at ₹505.5 crore down 90.6% YoY while EBIDTA margins contracted by 12.9 percentage points 2.1%. Adjusted EBIDTA for the quarter was down by 81.2% YoY ₹1,038 crore. Consolidated net loss for the quarter stood at ₹4,648 crore as compared to profit of ₹714 crore in the corresponding quarter previous year. Though the company reported a greater than expected loss for the quarter it seems that the worst is over for the company as Global steel demand is expected to improve gradually from here on as economic activity recovers with relaxation in mobility restrictions and policy stimulus.”  


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