Tata Steel Q3 Results Review - Indian Operations Outperform; Europe Continues To Drag: Axis Securities

Axis Securities Report

Tata Steel Ltd.'s reported a decent set of results. Consolidated revenue (down 3%/1% YoY/QoQ) missed consensus and our estimate by 4%.

However, consolidated Ebitda at Rs 6,334 crore was a significant beat (15% beat against consensus), led by higher Ebitda/tonne in India.

Ebitda/tonne in India stood significantly ahead of our estimate at Rs 16,903/tonne (up 63%/26% YoY/QoQ), a 15% beat, led by higher sales realisation on higher volumes and lower consumption costs.

Tata Steel's European Ebitda/tonne loss stood in line at $178/tonne, which expanded from a loss of $155/tonne in Q3 FY24 and $95/tonne in Q3 FY23. Attr. reported profit after tax stood at Rs 513 crore compared to a loss of Rs 6,196 crore in Q2 FY24 and Rs 2,224 crore in Q3 FY23.

Net debt slightly increased to Rs 77,405 crore from Rs 77,032 crore in Q2 FY24.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.