Business Today

Tata Steel shares zoom 7 pc after Q4 result

Shares of Tata Steel Limited jumped 7 per cent Friday after the company's consolidated income rose in the March quarter.

twitter-logo PTI        Last Updated: April 26, 2019  | 13:03 IST
Tata Steel shares zoom 7 pc after Q4 result
The company announced its quarterly earnings post market hours Thursday.

Shares of Tata Steel Limited jumped 7 per cent Friday after the company's consolidated income rose in the March quarter.

The scrip after a positive opening further gained 6.77 per cent to Rs 545.50 on the BSE At the NSE, shares advanced 6.99 per cent to Rs 546.50.

The scrip was the biggest gainer among the front-lines on both the key indices during the morning trade.

"Tata Steel's Q4 FY19 EBITDA of Rs 75.1 billion (up 16 per cent YoY) surpassed consensus driven by Tata Steel Europe," Edelweiss Research in a report.

The company announced its quarterly earnings post market hours Thursday.

Tata Steel Thursday said its consolidated income rose to Rs 42,913.73 crore in the reporting quarter from Rs 33,983.74 crore year-ago.

The largest alloy-maker Thursday had reported a sharp 84.37 per cent fall in consolidated net income at Rs 2,295.25 crore for the three months to March due to high base last year.

The company had booked a net income of Rs 14,688.02 crore in the corresponding quarter of the previous fiscal, the company said Thursday.

For the full fiscal 2019, consolidated net income almost halved to Rs 9,098.33 crore from Rs 17,762.81 crore, while consolidated revenue rose to Rs 1,59,089.57 crore, up from Rs 1,24,990.79 crore.

Also Read: Share Market Live: Sensex climbs 110 points, Nifty at 11,685; Tata Steel, JSW Steel top gainers

Also Read: Tata Starbucks posts 30 % sales growth in FY'19

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close