New Delhi — Tata Steel reported a 20.8% sequential decline in consolidated net profit for the quarter ended June 30, as a one-time loss weighed on earnings.
The steelmaker posted a net profit of Rs 2,318 crore in the first quarter of fiscal 2027, compared with Rs 2,926 crore in the preceding March quarter, according to a regulatory filing.
Revenue from operations declined 3.9% quarter-over-quarter to Rs 60,794 crore from Rs 63,270 crore.
Earnings before interest, taxes, depreciation and amortization fell 5.7% to Rs 9,264 crore from Rs 9,828 crore in the previous quarter. Tata Steel’s EBITDA margin narrowed slightly to 15.2% from 15.5%.
The company said its quarterly earnings were affected by a one-time loss of Rs 345 crore.
Tata Steel reported Rs 96 crore as its share of profit from joint ventures and associates, up from Rs 80 crore in the same period a year earlier.
Profit before exceptional items and taxes increased to Rs 4,183 crore from Rs 3,199 crore in the year-ago quarter.
After accounting for exceptional items, profit before taxes rose 25% year-over-year to Rs 3,838 crore, compared with Rs 3,067 crore a year earlier.
Exceptional items totaled Rs 345 crore during the quarter, compared with Rs 132 crore in the same period last year.
The items included Rs 318 crore in restructuring, redundancy and other provisions, as well as a Rs 37.25 crore impairment provision related to non-current assets. These charges were partially offset by a Rs 10 crore fair-value gain on non-current investments. (Source: IANS)
