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TATA STEEL Announces Quarterly Results (4QFY19); Net Profit Down 84.2%

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TATA STEEL Announces Quarterly Results (4QFY19); Net Profit Down 84.2%
Fri, 26 Apr

TATA STEEL has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

TATA STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m361,323412,199424,2392.9%17.4%
Other incomeRs m2,7492,1154,899131.7%78.2%
TurnoverRs m364,072414,314429,1373.6%17.9%
ExpensesRs m296,334344,966349,1061.2%17.8%
Gross profitRs m178,75167,55775,24811.4%-57.9%
DepreciationRs m15,12219,25518,805-2.3%24.4%
InterestRs m14,80919,40019,378-0.1%30.9%
Profit before taxRs m151,56931,01841,96435.3%-72.3%
TaxRs m5,76114,00618,99135.6%229.7%
Profit after taxRs m145,80817,01222,97335.0%-84.2%
Gross profit margin%49.516.417.7
Effective tax rate%3.845.245.3
Net profit margin%40.04.15.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 17.4% on a year-on-year (YoY) basis. The expenses were up by 17.8% YoY during the same period.
  • The company's operating profit declined by 57.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.7% in 4QFY19 as against 49.5% in 4QFY18.
  • Depreciation charges increased by 24.4% and finance costs increased by 30.9% YoY, respectively.
  • Other income increased by 78.2% YoY during the quarter.
  • Net profit for the quarter declined by 84.2% YoY. Net profit margins during the quarter declined from 40.0% in 4QFY18 to 5.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.2% QoQ during the same period.
  • The company's operating profit increased by 11.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.7% in 4QFY19 as against 16.4% in 3QFY18.
  • Net profit for the quarter increased by 35.0% QoQ, while net profit margins increased from 4.1% in 3QFY18 to 5.4% in 4QFY19.

To see how TATA STEEL has performed over the last eight quarters, please visit here.

TATA STEEL Share Price Performance

Over the last one year, TATA STEEL share price has moved up from Rs 579.1 to Rs 547.2, registering a Loss of Rs 31.9 or around 5.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 11,349.7 (up 1.9%). Over the last one year it has moved down from 14,144.9 to 11,349.7, a gain of 2,795 points (down 19.8%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 547.2, the price to earnings (P/E) ratio of TATA STEEL stands at 5.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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