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Tata Steel declines on reporting 65% fall in Q4 consolidated net profit
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Tata Steel is currently trading at Rs. 166.95, down by 7.25 points or 4.16 % from its previous closing of Rs. 174.20 on the BSE.
The scrip opened at Rs. 172.90 and has touched a high and low of Rs. 172.90 and Rs. 166.80 respectively. So far 2145394 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 178.00 on 27-May-2024 and a 52 week low of Rs. 105.65 on 31-May-2023.
Last one week high and low of the scrip stood at Rs. 178.00 and Rs. 166.40 respectively. The current market cap of the company is Rs. 210346.23 crore.
The promoters holding in the company stood at 33.19%, while Institutions and Non-Institutions held 43.28% and 22.86% respectively.
Tata Steel has reported results for fourth quarter (Q4) and year ended March 31, 2024.
The company has reported 2.93% fall in its net profit at Rs 4,050.30 crore for the quarter under review as compared to Rs 4,172.48 crore for the same quarter in the previous year. Total income of the company decreased by 3.68% at Rs 37,115.84 crore for Q4FY24 as compared Rs 38,533.10 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 64.59% fall in its net profit at Rs 554.56 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,566.24 crore for the same quarter in the previous year. Total income of the company decreased by 6.76% at Rs 58,863.22 crore for Q4FY24 as compared Rs 63,131.08 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the company has reported 67.26% fall in its net profit at Rs 4,807.40 crore as compared to Rs 14,685.25 crore for the previous year. Total income of the company decreased by 0.91% at Rs 1,44,110.34 crore for year under review as compared to Rs 1,45,443.76 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the company has reported net loss at Rs 4,909.61 crore as compared to net profit of Rs 8,075.35 crore for the previous year. Total income of the company decreased by 5.49% at Rs 2,30,979.63 crore for year under review as compared to Rs 2,44,390.17 crore for year ended March 31, 2023.
