Tata Steel Q4 Results: Net profit falls 64%, misses Street expectations

Tata Steel Q4 FY24 Results: Tata group steelmaker Tata Steel on Wednesday reported a consolidated net profit of Rs 611.5 crore for the quarter ended March 31, missing analysts' expectations. The net profit was down 64.1 per cent on a year-on-year basis. 

The alloy maker registered revenue of Rs 58,687.3 crore for the fourth and final quarter of FY24, as against Rs 62,961.5 crore for the corresponding period a year ago, according to a regulatory filing. 

According to Zee Business research, Tata Steel's March-quarter consolidated net profit was estimated at Rs 1,354 crore and revenue at Rs 61,096 crore. 

Tata Steel dividend

Tata Steel's board recommended a dividend of Rs 3.6 per equity share for FY24. Read more on Tata Steel dividend

 Rs 3,000 crore fund-raising plan

The board also approved the issuance of additional debt securities in one or more tranches to raise up to Rs 3,000 crore via non-convertible debentures (NCDs) on a private placement basis.

Earlier on Wednesday, Tata Steel shares ended 0.4 per cent weaker at Rs 174.2 apiece on BSE.

Tata Steel Stock Historical Performance

As of May 29, Tata Steel shares have rewarded investors with a 62.5 per cent return in a year, sharply outperforming headline index Nifty's 21.9 per cent gain and sectoral index Nifty Metal's 65.8 per cent rally.

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