Tata Steel Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||10.8||431|
|Net Profit (adjusted)||10||-|
Tata Steel’s Q2FY17 consolidated numbers registered a miss on the streets estimates. While revenue came in 1.2% higher than the estimated Rs 27,150 cr. EBITDA was 15.9% below the consensus figure of Rs 3,531 cr. Also, the company reported an adjusted net profit of Rs 10 cr versus an estimate of Rs 821 cr.
Consolidated net revenue for the quarter came largely in-line (growing 0.1% yoy) to Rs 27,471 cr.
EBITDA rose by 65.5% yoy to Rs 2,970 cr due to the impact of adjustment for change in inventory amounting to Rs 1264.7 cr.
And adjusted net profit for the period came in at Rs 10 cr versus an adjusted net loss of Rs 906 cr during the corresponding quarter last year.
Tata Steel Ltd ended at Rs. 435.45, down by 1.4 points or 0.32% from its previous closing of Rs. 436.85 on the BSE.
The scrip opened at Rs. 431.3 and touched a high and low of Rs. 440.9 and Rs. 429.3 respectively. A total of 5717087(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
BSE 406.40 [3.30] ([0.81]%)
NSE 406.40 [3.20] ([0.78]%)
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