Tata Steel reported its earnings for the quarter ended September after markets closed on Wednesday.

What Happened: The steel major reported a ₹833.45 crore profit for the quarter under review, a major swing from the ₹6,196.2 crore loss posted in the same quarter last year. The bottom line in the same quarter last year was impacted by a one-time exceptional loss of ₹6,898.90 crore.

The company's revenue from operations came down 3.2% year-on-year to ₹53,904 crore, compared to the ₹55,682 crore posted in the corresponding quarter of the previous year. EBITDA for the quarter stood at ₹6,141 crore with an EBITDA margin of 11.4%.

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Revenue was mostly in line with analyst estimates while the bottom line blew past Dalal Street estimates. Analysts expected the steel giant to report a revenue of ₹53,943 crore with a loss of around ₹40 crore. EBITDA was seen at ₹4,847 crore.

Tata Steel India generated ₹32,399.48 crore in revenue in the September quarter, compared to ₹32,957.89 crore in the June quarter and ₹34,197.76 crore in the same quarter last year.

Tata Steel Europe recorded revenue of ₹19,038.42 crore, slightly lower than ₹19,575.06 crore in the June quarter and compared to ₹18,846.71 crore in the same quarter last year.

Revenue from South East Asian operations stood at ₹1,766.83 crore, lower than ₹1,864.86 crore in the June quarter and slightly down from ₹1,798.23 crore in the same quarter last year.

Price Action: Tata Steel’s share price was up 0.87% to close at ₹153.62 on Wednesday.

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