Markets

News Details

( 08 Feb 2019)
Tata Steel Q3 net profit jumps 83.55% at Rs 2456.09 cr

The company reported standalone net profit of Rs 2,456.09 crore for the quarter ended December 31, 2018 as compared to Rs 1338.09 crore in the same period last year, registering a year-on-year growth of 83.55 per cent.

Net revenue of the company rose moderately by 9.02 per cent at Rs 16,691.22 crore in October-December quarter of this fiscal as against Rs 15,309.94 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 15.11 per cent to Rs 12,624.45 crore from Rs 10,967.67 crore in year ago period.

Other Income grew by 221.65 per cent at Rs 585.98 crore versus (Dec'17 Rs 182.18 crore).

Operating Profit slipped by 1.70 per cent to Rs 4,549.42 crore as against Rs 4,628.11 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 9.82 per cent in December quarter.

Interest grew by 1.77 per cent y-o-y to Rs 682.04 crore, while Taxation increased by 70.47 per cent at Rs 1,317.21 crore (Dec'17 Rs 772.71 crore).