Tata Steel Q3 Results: Net profit surprises, revenue down 3% on-year; margins steady at 11%

Tata Steel announced its Q3 results on Monday, reporting a net profit of ₹295.5 crore, a notable surprise compared to CNBC-TV18’s poll estimate of a ₹550 crore loss. However, the net profit declined 43.4% from ₹522 crore in the corresponding quarter of the previous year.

The company reported an exceptional loss of  ₹126.2 crore against a loss of ₹334.13 crore in the year ago period.

Revenue from operations stood at ₹53,648.3 crore, exceeding the poll estimate of ₹52,550 crore but marking a 3% decline year-on-year (YoY) from ₹55,312 crore.

EBITDA (earnings before interest, tax, depreciation, and amortisation) came in at ₹5,900.6 crore, significantly higher than the estimated ₹4,700 crore. However, on a YoY basis, EBITDA fell 5.8% from ₹6,264 crore, reflecting cost pressures and softer pricing.

Also read: Q3 Results Live Updates: Tata Steel net profit plunges 43%; IGL beats street estimates

The EBITDA margin remained steady at 11%, slightly lower than the 11.3% recorded a year ago but comfortably above the poll estimate of 8.9%.

Tata Steel’s shares closed nearly 3% lower at ₹126.40 on the BSE on Monday. The results were announced post market hours.