Tata Steel Q1 Results LIVE: Net profit jumps 75% YoT at ₹918 crore, revenue drops 7% YoY

• Approved infusion of ₹6,000 crore in one or more tranches in Neelanchal Ispat Nigam Ltd, a subsidiary company of the company.
• Approved to execute a Share Purchase & Shareholders’ Agreement (‘SPSA’) with Tata Power Renewable Energy Ltd. (‘TPREL’) and its wholly owned subsidiary TP Parivart Ltd (‘TPPL’), to acquire and hold 26% equity stake in TPPL.

• On the operational front, the EBITDA ( Earnings before interests,taxes depriciation and ammortization) jumped nearly by 42% YoY at ₹6,694 crore.
• This was led by drop in raw material costs and positive inventory benefits for the quarter.
• The EBIDTA margins for the quarter also expanded strongly by nearly 200 bps at 12.4% for Q1FY25 as against 10.4% for Q1FY24.

• On segmental basis, Tata Steel India which contributes majority of the revenue posted 7%YoY drop in the revenue at ₹32959 crore as against ₹35486 crore in previous year similar quarter.
• Tata steel Europe which contributed nearly 35% of the total revenue witnessed 8.25% drop in the revenue at ₹19820 crore.

• Tata steel reported robust numbers with net profit rising 75% YoY to ₹918 crore for Q1FY25 as against ₹525 crore in previous year similar quarter.
• Consolidated revenue for the quarter recorded 7% drop at ₹54,771 crore as against ₹59,015 crore in previous year corresponding quarter

Natarajan Chandrasekaran, Chairman, Non-Executive

Noel Naval Tata, Vice Chairman, Non-Executive

Farida Khambata, Independent Director

Deepak Kapoor, Independent Director

Bharti Gupta Ramola, Independent Director

Dr Shekhar C Mande, Independent Director

V K Sharma, Independent Director

Saurabh Agrawal, Non-Executive Director

TV Narendran, CEO, and Managing Director

Koushik Chatterjee, Executive Director and Chief Financial Officer

Earlier this week, Tata Steel said it had acquired over 557 crore equity shares in its Singapore-based arm for $875 million. In May, Tata Steel's board approved the infusion of funds into T Steel Holdings Pte Ltd (TSHP) by way of subscription to equity shares in one or more tranches.

Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it said.

The steel major's India business reported a 5% increase in crude steel production to 5.25 million tonnes in Q1 FY25 as compared with 5.02 million tonnes posted in Q1 FY24. Tata Steel India deliveries stood at 4.94 million tonnes, up by 3.13% YoY, which were the best ever 1Q sales, stated the company.

Earlier in July, Fitch Ratings revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company's operations in the UK. However, the expected robust growth in Tata Steel's India operations and likely earnings before interest, taxes, depreciation, and amortisation (EBITDA) profits at Dutch operations in FY25 may offset any losses at UK operations, Fitch Ratings said in a report.

At 2:42 pm, the stock was trading 0.72% higher at ₹165.25 on the NSE.