Tata Steel to report Q4 numbers today; here is everything you need to know
Tata Steel share price: According to Zee Business research, Tata Steel is likely to register a consolidated net profit of Rs 1,354 crore for the March quarter, which translates into a fall of 20 per cent compared with the corresponding period a year ago.
Tata Steel share price: Tata Steel shares will be in focus on Wednesday (May 29) as the company is slated to report its Q4 numbers after market hours.
Analysts expect the steel giant to log a weak financial performance for the final three months of FY24.
According to Zee Business research, Tata Steel is likely to register a consolidated net profit of Rs 1,354 crore for the March quarter, which translates into a fall of 20 per cent compared with the corresponding period a year ago. The analysts estimate the Tata group company's March-quarter revenue at Rs 61,096 crore as against Rs 62,962 crore a year ago.
The Tata group company is expected to log Rs 6,516 crore in March-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA), down 9.8 per cent on a year-on-year basis, according to the research.
Read more: Tata Steel Q4 Results Preview: Net profit likely to drop 20%, domestic EBITDA per tonne may shrink 5%
How did Tata Steel fare in Q3?
The steel maker recorded a consolidated net profit of Rs 522.14 crore in the October to December quarter of the current financial year, up from a massive Rs 2,501.95 crore loss in the same quarter of the previous fiscal, as strong domestic demand offset the losses that the company is facing in Europe.
The company's earnings before interest, tax, depreciation, and amortisation, or EBITDA, stood at Rs 6,264 crore against Rs 4,048 crore logged in the year-ago period. Margins rose to 11.3 per cent against 7 per cent YoY.
Tata Steel share price: Past performance
In a year, shares of Tata Steel have given returns of over 61 per cent against Nifty50's rise of over 23 per cent.
May 29 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.