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Tata Steel share climbs 3.54% after firm reports Rs 3,989-crore profit in Q3

Tata Steel stock touched an intraday high of Rs 724.4, rising 3.55% on BSE

twitter-logoBusinessToday.In | February 10, 2021 | Updated 11:04 IST
Tata Steel share climbs 3.54% after firm reports Rs 3,989-crore profit in Q3
Tata Steel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Tata Steel share rose over 3% in early trade after the firm reported a net profit of Rs 3,989 crore in Q3 against net loss of Rs 1,166 crore in the year-ago quarter. Tata Steel stock touched an intraday high of Rs 724.4, rising 3.55% on BSE.

Tata Steel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 55.08% in one year and risen 6.91% since the beginning of this year.

Market cap of the firm stood at Rs 77,344 crore. Revenue rose 11.5 per cent year-on-year (YoY) to Rs 39,594 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 160 per cent to Rs 9,540 crore, highest ever in a quarter.

EBITDA per tonne more than doubled to Rs 13,876 from Rs 5,003 in the year-ago period. It stood at Rs 8,396 in preceding July-September quarter.

"Consolidated free cash flow was Rs 12,078 crore during 3QFY21 and Rs 20,588 crore in the first nine months of the current financial year driven by strong operating performance, disciplined capital expenditure and working capital management," Tata Steel said.

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The company's production rose to 7.20 million tonnes from 6.99 million tonnes a year ago, while deliveries declined to 6.88 million tonnes from 7.31 million tonnes.

Tata steel said it has decided to restart work on pellet plant and cold roll mill complex at Kalinganagar, Odisha. On completion, the plants will expand margins.

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