Tata Steel Q4 results: Steel major's FY23 Q4 net profit falls 84 per cent to Rs 1,566.24 crore

Tata Steel Q4 results: Tata Steel on Tuesday announced its Q4 results, registering a sharp fall of over 84 per cent in its consolidated net profit at Rs 1,566.24 crore, triggered by lower income. It was a steep fall from Rs 9,835.12 crore in FY22 Q4. 
The company's standalone profit for the quarter ended March also fell to Rs 3,497 crore from Rs 7,899 crore in same quarter last year. However, its standlone profit in the previous quarter was Rs 1,918 crore. 
The company's total income also went down to Rs 63,131.08 crore from Rs 69,615.70 crore in the January-March period of the financial year 2021-22.

The company's total expenses rose to Rs 59,918.15 crore in Q4 from Rs 57,635.79 crore in the corresponding quarter last year. 

The company's profit before tax for the January-March quarter was Rs 3,320.77 crore against Rs 11,864.97 crore in the corresponding quarter last year.

Tata Steel's net debt decreased Rs 3,900 crore in Q4 and it now stands at Rs 67,810 crore.

Though profits of the company dropped significantly, Tata Steel's share on Tuesday gained 2.27 per cent to close at Rs 110.40.