InvestorQ : How were the Tata Steel numbers for the Mar-22 quarter?
diksha shah made post

How were the Tata Steel numbers for the Mar-22 quarter?

12 months ago

Tata Steel reported record net profits of Rs.9,835 crore for Mar-22 quarter. This represents yoy growth of 37% in the bottom line. For the quarter, profits were largely driven by a surge in other income. In terms of the top line, sales revenues were up by a healthy 38.4% to Rs.69,616 crore in Q4. For the quarter, the sales were driven by a surge in volume and more importantly by a surge in prices of steel and steel products across the range.

There is an interesting piece of statistics this year for Tata Steel. Incidentally, the total net profits for the full year for Tata Steel was at Rs.41,749 crore. This is higher than the full year profits made by TCS which reported full year profits of Rs.38,750 crore. Now this is happening after nearly 14 years since Tata Steel had last reported higher profits than Tata Consultancy Services way back in 2008 at the peak of the previous commodity cycle.

To add to the excitement, Tata Steel also announcement big corporate action in the quarter. Firstly, the dividend announced by Tata Steel for the year came in sharply higher at Rs.51 per share, making the stock attractive even on dividend yield basis. In addition, Tata Steel also declared a stock split in the ratio of 1:10 and this move is likely to bring the stock into a more popular trading range.