Tata Steel informed the exchanges that it would release its earnings for the quarter ended June next week.
What Happened: In an exchange filing, the Tata Group company said that a meeting of its board of directors will be held on Wednesday, July 31 to approve the financial results for the quarter ended June.
According to Motilal Oswal Financial Services, Tata Steel is expected to post a 79.4% year-on-year increase in net profit, reaching approximately ₹1,100 crore, up from ₹600 crore in the same quarter last year. However, net sales are predicted to decline by 2.5% year on year to ₹58,000 crore, down from ₹59,500 crore.
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The brokerage firm anticipates that the company’s India business will see normalised volumes in Q1, while overseas operations will likely remain flat.
The firm’s Netherlands operations are expected to report positive EBITDA per tonne, improving overall performance, whereas the U.K. business is anticipated to incur losses, leading to an EBITDA loss for Europe.
Prabhudas Lilladher forecast that Tata Steel will report a net profit of ₹870 crore, marking a 37.7% increase. The brokerage forecasts a 5.8% year-on-year decrease in net sales, amounting to ₹56,020 crore. EBITDA are expected to grow by 15.4% to ₹5,970 crore.
Price Action: Tata Steel’s share price was up 0.92% to trade at ₹161.49 shortly after market open on Wednesday.
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