Tata Steel shares in focus as company swings back to black

Shares of steel major Tata Steel Ltd will be in focus today after the company turned to black in the quarter ended September 2024. The company had posted a loss in the last year period.

In earnings released after the market hours, the company reported a net profit of Rs 833 crore in the second quarter, compared with a loss of Rs 6196 crore in the last year quarter.

Revenue from operations in the reporting period fell 3% year-on-year to Rs 53,905 crore.


The company clocked an EBITDA of Rs 6141 crore during the July-September 2024 period, while margins stood at Rs 11.4%.

Total expenses during the second quarter reduced to Rs 52332 crore. The same stood at Rs 55853 crore in the corresponding quarter of previous year.

Tata Steel India business reported a revenue decline of 5% YoY to Rs 32,399 crore in the September quarter as against Rs 34197 crore in the year-ago quarter.

Revenue from the Neelachal Ispat Nigam Ltd (NINL) business rose to Rs 1348 crore in the quarter ended September 2024. It was Rs 1283 crore in the last quarter.

The Board has also approved the appointment of Pramod Agrawal as an Additional Director (Non-Executive, Independent) effective November 6 and as an Independent Director for a term of 5 years.

On Wednesday, Tata Steel shares closed 1% higher at Rs 153.81 on NSE.