Tata Steel will be in the spotlight on Tuesday, January 28, after revealing that its profits for the December quarter fell by 36%. The company made a net profit of Rs 327 crore, down from Rs 513 crore a year ago. Their revenue from operations for Q3FY25 was Rs 53,648 crore, which is a 3% drop from Rs 55,312 crore last year.
When we look at how they performed over the last few months, their net profit dropped 61% from Rs 833 crore in the previous quarter (July-September). Revenue went down a bit too, from Rs 53,905 crore in Q2FY25 to Rs 53,648 crore.
Breakdown by Region:
– India: The Indian operations earned Rs 32,760 crore, down 5.5% compared to Rs 34,686 crore last year. However, this was better than the Rs 32,399 crore from the previous quarter.
– Europe: Tata Steel Europe reported revenue of Rs 18,491 crore, which is an increase from Rs 18,142 crore last year but slightly less than the Rs 19,038 crore earned last quarter.
What Analysts Are Saying:
– JP Morgan: They have an “Overweight” rating for Tata Steel and a target price of Rs 155. They think the company performed well because of lower costs in some areas. They are keeping an eye on raw material costs and profit from the European side.
– Morgan Stanley: They have an “Equal Weight” rating with a target price of Rs 160. They noted strong performance in India and said the UK business met expectations. Lower costs for shipping and repairs also helped improve the overall results.
(Disclaimer: Experts’ recommendations are their own opinions and don’t represent the views of Thellv.news)
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