InvestorQ : How did you find the quarterly numbers of Tata Steel for the June quarter?
Mitali Bhutta made post

How did you find the quarterly numbers of Tata Steel for the June quarter?

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2 weeks ago
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Tata Steel,which announced its results on Monday, posted 21% lower net profits at Rs7,714 crore for the first quarter ended June 2022. It may be recollected that in Q1FY22, Tata Steel had reported healthy net profits of Rs9,768 crore, so this quarter the profits are sharply lower. However, the top line performance was fairly impressive for Tata Steel.

Sales revenues of Tata Steel for the June 2022 quarter was up 18.8% yoy at Rs63,698 crore. However, this was largely offset by a 20% spike in the cost of materials and also the financing costs. That actually put a lot of pressure on the net profits of Tata Steel for the quarter. The company also took a hit due to weak exports on account of export levies.

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