Tata Steel stock closes higher on better-than-expected Q1 earnings
The company had posted consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. At 11:57 am, the stock was trading 3.67 percent or 22 points higher on the BSE. The stock is up almost 59.27 percent or 231 points since the beginning of this year.
- Aug 8, 2017,
- Updated Oct 15, 2017 1:52 PM IST
The Tata Steel stock rose in early trade today after the firm reported a consolidated net profit of Rs 921.09 crore for the quarter ended June 30, 2017 on the back of higher revenue from operations.
The company had posted consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE.
At 11:57 am, the stock was trading 3.67 percent or 22 points higher on the BSE.
The stock is up almost 59.27 percent or 231 points since the beginning of this year.
On an year-on-year basis, the stock has rose 64 percent or 242 points.
Around 1.03 million shares of the firm traded on the BSE.
The stock closed 2.63 percent or 15.75 points higher on the BSE.
Tata Steel's listed competitors include Usha Martin Limited, Tata Power Company, Tata Motors Ltd, Tai Industries, Jindal Stainless, Panchmahal Steel, Sarda Energy & Minerals Limited, Stelco Strips Ltd, and Visa Steel Ltd.
The consolidated revenue from operations during April-June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.
However, consolidated total expenses increased to Rs 28,844 crore, over Rs 25,003.7 crore in the year-ago period.
The Tata Steel stock rose in early trade today after the firm reported a consolidated net profit of Rs 921.09 crore for the quarter ended June 30, 2017 on the back of higher revenue from operations.
The company had posted consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE.
At 11:57 am, the stock was trading 3.67 percent or 22 points higher on the BSE.
The stock is up almost 59.27 percent or 231 points since the beginning of this year.
On an year-on-year basis, the stock has rose 64 percent or 242 points.
Around 1.03 million shares of the firm traded on the BSE.
The stock closed 2.63 percent or 15.75 points higher on the BSE.
Tata Steel's listed competitors include Usha Martin Limited, Tata Power Company, Tata Motors Ltd, Tai Industries, Jindal Stainless, Panchmahal Steel, Sarda Energy & Minerals Limited, Stelco Strips Ltd, and Visa Steel Ltd.
The consolidated revenue from operations during April-June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.
However, consolidated total expenses increased to Rs 28,844 crore, over Rs 25,003.7 crore in the year-ago period.