Tata Steel on Friday reported healthy third quarter earnings of the financial year 2021-22 (Q3FY22). The company’s top line came flat, while the bottom line posted marginal growth, while the margins also showed improvement during the quarter. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

As per Tata Steel’s filing to exchanges, the consolidated profit jumped almost 6 per cent to Rs 9598.1 crore in December-end quarter of FY22 as compared to Rs 9068 crore in a year ago quarter, while the consolidated revenues came flat at Rs 60783 in Q3FY22 versus Rs 61,121 crore in Q3FY21. 

See Zee Business Live TV Streaming Below:

The company’s consolidated EBITDA surged over 4 per cent to Rs 15893.5 crore in third quarter of FY22 as compared to Rs 15,261 crore in the same quarter a year ago. Similarly, the margins of the company jumped 80 basis points to 26.1 per cent from 25.3 per cent YoY. 

As per the filing, “the consolidated Free Cash Flow was Rs.6,338 crores during Q3FY22 despite an increase in working capital of Rs 2,045 crore. On 9MFY22 basis, Tata Steel generated free cash flow of Rs 13,214 crores.” 

“The company has spent Rs.2,790 crores on capex during the quarter. Work on the Pellet plant, the Cold Roll Mill complex and the 5 MTPA expansion at Kalinganagar is ongoing,” Tata Steel said.