Its consolidated core operating profit of Rs. 2,205.24 crore for the quarter, clocked growth of 42.92% yoy and 184.3% qoq. Operating profit margin for the current quarter at 7.47% expanded by 289 bps yoy and 470 bps qoq.
For the year ended March 31, 2016, the company's consolidated net loss narrowed to Rs. 3,049.32 crore from Rs. 3,925.52 crore in the corresponding period of the previous year. Its consolidated revenue for the period stood at Rs. 1,17,151.59 crore, registering decline of 16.02% yoy.
Tata Steel Ltd's core operating profit stood at Rs. 7,585.65 crore, recording decline of 39.49% yoy. Operating margin for the current period at 6.68% contracted by 231 bps yoy.
On standalone basis,Tata Steel Ltd, reported standalone net profit of Rs.676.60 crore for the quarter ended March 31, 2016, registering decline of 16.89% yoy, but growth of 49.42% qoq. The company’s standalone revenue stood at Rs. 10,521.67 crore, down 1.06% yoy but up 16.08% qoq.
Its standalone core operating profit of Rs. 2,163.38 crore for the quarter, clocked growth of 28.86% yoy and 44.41% qoq. Operating profit margin for the current quarter at 20.56% expanded by 477 bps yoy and 403 bps qoq.
For the year ended March 31, 2016, the company reported standalone net profit of Rs. 4,900.95 crore, declining by 23.89% yoy. Its standalone revenue for the period stood at Rs. 38,210.34 crore, registering decline of 8.55% yoy.
Tata Steel Ltd's core operating profit stood at Rs. 7,211.75 crore, recording decline of 27.95% yoy. Operating margin for the current period at 19.24% contracted by 471 bps yoy.
Result Highlights: (Rs. in crore)
|Reported Results||Bloomberg Estimates||Variance (%)|
|Consolidated Net Profit||-3213.76||-963.37||233.60|
Corporate Action: Tata Steel’s board of directors at its meeting held on May 25, 2016 has recommended a dividend of Rs.8/- per equity share of Rs.10 each to the shareholders for the year ended March 31, 2016, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The dividend if approved by the shareholders at the ensuing AGM will be paid on and from August 16, 2016.
Tata Steel Ltd is currently trading at Rs. 322.05, down by 2.3 points or 0.71% from its previous closing of Rs. 324.35 on the BSE.
The scrip opened at Rs. 322.1 and has touched a high and low of Rs. 329.25 and Rs. 320.5 respectively. So far 6634745(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 31501.37 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 364.15 on 21-Apr-2016 and a 52 week low of Rs. 200 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 337.25 and Rs. 311.2 respectively.
The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 39.88 % and 28.77 % respectively.
The stock is currently trading above its 50 DMA.