New Delhi: Tata Steel on Tuesday reported a 46.83 per cent year-on-year (YoY) rise in net profit at Rs 9,756.20 crore for the quarter ended March 31, 2022. The company had reported a profit of Rs 6,644.15 crore in the same quarter last year.
Revenue from the operations increased 38.6 per cent YoY to Rs 69,323.5 crore in Q4 FY22 from Rs 50,028.37 crore in Q4 FY21.
The steelmaker has reported a net profit of Rs 9,572.67 crore with an income from operations at Rs 60,783.11 crore in December 2021 quarter.
The company board recommended a dividend of Rs 51 per share. The company has also announced a proportionate dividend of Rs 12.75 per equity share or 510 per cent for the partly paid-up ordinary shares of the company.
Apart from this, the company board has also approved sub-division of equity shares of the company having face value of Rs 10 each into 10 equity shares of Re 1 each.
In Indian operations, the company achieved its highest-ever annual crude steel production of 19.06 million tons, registering a growth of 13 per cent. The company topped deliveries of 18.2 million tons during the fiscal year.
Revenue from the European operations increased 54 per cent to £8,876 million, with an operational profit of £1,199 million, translated into EBITDA per ton of £133.
For the entire financial year ended March 31, 2022, Tata Steel reported a 436 per cent rise in the net profit to 40,153.93 crore as against a net profit of Rs 7,490.22 crore in the previous fiscal year.
The company reported a total income from operations at Rs 2,43,959.17 crore, registering a growth of 55.9 per cent YoY. The company reported an income of operations of Rs 1,56,477.40 crore in the financial year 2020-21.
Management Commentary
Tata Steel has again demonstrated its ability to deliver stellar results despite heightened complexity in the face of Covid-19 as well as geopolitical tensions, said TV Narendran, Chief Executive Officer & Managing Director, Tata steel.
“Our Indian business showed broad-based growth across our chosen segments due to our sustained focus on customer relationships, our distribution network and our portfolio of brands supported by our agile business model,” he added.
“Our European operations delivered robust performance as the transformation programme undertaken helped to leverage the strong business environment.”
On Monday, shares of Tata Steel advanced about 2 per cent to Rs 1,295.10 on BSE.
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