Tata Steel Reports 64% Decline in Q4 Profits at Rs. 611.48 Crores

Tata Steel stock ended 0.37% lower at Rs 174.20 on BSE in the previous session. Tata Steel stock opened flat at Rs 174.85 on BSE. The market capitalization of the firm stood at Rs 2.17 lakh crore. Total 14.27 lakh shares changed hands amounting to a turnover of Rs 24.92 crore on BSE.

The company reported a 64% decline in fourth quarter profit at Rs 611.48 crore, compared to Rs 1,704.86 crore in the same quarter a year ago. The decline was attributed to lower steel realisations and poor performance in the steelmaker’s international operations. Consolidated revenue from operations in Q4 fell 6.7% to Rs 58,687.3 crore against Rs 62,961.5 crore recorded in the year-ago period. However, on a sequential basis, consolidated revenue from operations increased six percent from Rs 55,311.88 crore in the previous quarter, and net profit rose 19 percent from the previous quarter.

Tata Steel stock has a one-year beta of 0.9, indicating low volatility during the period. In terms of technicals, the relative strength index (RSI) of Tata Steel stood at 65.1, signaling it’s trading neither in the overbought nor in the oversold zone. Tata Steel shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, and 200 day moving averages.

Tata Steel shares have rallied 60.70% in a year and risen 24.52% in 2024. The company’s board cleared the issue of additional debt securities, in one or more tranches, up to Rs 3,000 crore in the form of NCDs (Non-convertible debentures) on private placement basis. Additionally, the board cleared the proposal to infuse funds up to $2.11 billion (Rs 17,407.50 crore) into a wholly owned subsidiary T Steel Holdings (TSHP) Singapore, to repay debt and to support the restructuring costs at Tata Steel UK.