Should you buy, sell or hold Tata Steel shares after Q1 results of Tata group steelmaker?
Tata Steel shares faced selling pressure on Tuesday, a day after the Tata group steel major reported a set of quarterly numbers that were largely in line with analysts estimates.
Tata Steel shares faced selling pressure on Tuesday, a day after the Tata group steelmaker reported a set of quarterly numbers that were largely in line with analysts' estimates. The Tata Steel stock dropped by as much as Re 1.1 or one per cent to Rs 114.4 apiece on BSE in morning deals.
Tata Steel Q1 results: A summary
After market hours on Monday, Tata Steel reported a net profit of Rs 634 crore for the April-June period, a fall of 91.8 per cent compared with the corresponding period a year ago.
Its revenue came in at Rs 59,490 crore for the first quarter of the current financial year as against Rs 63,430 crore for the year-ago quarter, according to a regulatory filing.
According to Zee Business research, the steel major's quarterly net profit was estimated at Rs 850 crore and revenue at Rs 59,400 crore.
The company reported Rs 5,174 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the June quarter, better than Zee Business analysts' estimate of Rs 4,932 crore.
Its margin — a key measure of profitability — stood at 8.7 per cent for the three-month period, as against the analysts' estimate of 8.3 per cent. Read more on Tata Steel Q1 results
EDITOR'S TAKE | Results in line with estimates, India business resilient
Zee Business Managing Editor Anil Singhvi highlighted that Tata Steel staged a strong performance in its India business through its European unit continued to report losses.
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