Tata Steel Q2 FY25 results: Net profit at Rs 833 crore; revenue slips 3% YoY

Tata Steel Ltd on Wednesday reported a consolidated net profit of Rs 833.45 crore in the September 2024 (Q2 FY25) quarter as against a loss of Rs 6,196.24 crore in the year-ago period.

The company's revenue from operations fell 3.19 per cent to Rs 53,904.71 crore in Q2 FY25 from Rs 55,681.93 crore in the corresponding period last year.

During the quarter under review, total expenses slipped to Rs 52,331.58 crore compared to Rs 55,853.35 crore in the September 2023 quarter.

Tata Steel's India business revenues fell to Rs 32,399.48 crore in Q2 FY25. Although, the company received some support from revenue of Tata Steel Europe for the July-September 2024 quarter. Europe operations are the second-largest revenue generator for the Indian steelmaker.

In addition, the company's Board approved the appointment of Pramod Agrawal as an additional director (non-executive, independent) effective November 6, 2024, for a term of 5 years.

"The board of the company considered and unanimously approved the appointment of Mr. Pramod Agrawal (DIN: 00279727) as an additional director (Non-Executive, Independent) effective November 6, 2024 and as an Independent Director of the Company for a term of 5 years effective November 6, 2024 through November 5, 2029, subject to the approval of the shareholders of the company," it stated in a BSE filing.

Tata Steel's quarterly results were declared post-market hours today. Earlier in the day, shares of the Tata Group firm settled 0.85 per cent higher at Rs 153.60. At this price, the stock has climbed 153.60 per cent on a year-to-date (YTD) basis.

The counter saw high trading volume on BSE today as around 36 lakh shares changed hands. The figure was more than double compared to the two-week average volume of 17.68 lakh shares. Turnover on the stock came at Rs 54.60 crore, commanding a market capitalisation (m-cap) of Rs 1,91,745.68 crore.

The counter traded higher than the 5-day, 10-day and 20-day simple moving averages (SMAs) but lower than the 30-day, 50-, 100-, 150-day and 200-day SMAs. The scrip's 14-day relative strength index (RSI) came at 51.09. A level below 30 is defined as oversold while a value above 70 is considered overbought.

According to BSE data, the company's stock has a price-to-equity (P/E) ratio of 54.29 against a price-to-book (P/B) value of 1.38. Earnings per share (EPS) stood at 2.81 with a return on equity (RoE) of 2.54. As of September 2024, promoters held a 33.19 per cent stake in the company.