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Tata Steel Q3 Profit Rises 53%
Tata Steel Ltd reported a 53 percent increase in net profit to Rs 1,751 crore for the December-ended quarter compared the previous year. In the third quarter of 2017-18, it was at Rs 1,444 crore.
The company's revenue for the period under review rose 23 percent to Rs 41,219 crore from Rs 33,446.6 crore in the year before.
At the operational level, the earnings before interest, taxes, depreciation and amortization (EBITDA) was up by 18 percent to Rs 6,723.9 crore as against Rs 5,697 crore in December 2017. Operating margin lowered to 16.3 percent from 17 percent in the year before.
Tata Steel's business in India reported a 10 percent higher revenue at Rs 17,173.9 crore in the third quarter when compared to Rs 15,595.8 crore in the year before. It's European business saw an 8 percent rise in revenue to Rs 15,850.5 crore as opposed to Rs 14,692.7 crore in December 2017.
In the rest of the global business, revenues were up by 39.6 percent at Rs 202.1 crore when compared to Rs 144.7 crore last year.
