New Delhi: Shares of Tata Steel fell 4 per cent in early trade on Thursday as the domestic steelmaker reported a 64.59 per cent decline in its net profit for the January-March quarter of 2023-24 due to lower realizations and some exclusions. . , Of. , Of. Because of things.
The company's shares were trading 3.93 per cent lower at R167.40 on the National Stock Exchange (NSE) in morning trade.
It fell 3.82 percent to Rs 167.55 per piece on BSE.
Tata Steel on Wednesday reported a 64.59 per cent decline in its consolidated net profit for the January-March quarter of 2023-24 at Rs 554.56 crore due to lower realizations and some exceptional items.
The steel major had posted a profit of Rs 1,566.24 crore in the year-ago period.
The company's total income declined to Rs 58,863.22 crore in the January-March period of FY 2023 from Rs 63,131.0 crore.
Its revenue declined 6 percent due to lower realisations, but this was partially offset by higher volumes in India.
The company said the exceptional items were mainly related to the impairment of significant assets and restructuring costs related to the UK business.
The company's shares were trading 3.93 per cent lower at R167.40 on the National Stock Exchange (NSE) in morning trade.
It fell 3.82 percent to Rs 167.55 per piece on BSE.
Tata Steel on Wednesday reported a 64.59 per cent decline in its consolidated net profit for the January-March quarter of 2023-24 at Rs 554.56 crore due to lower realizations and some exceptional items.
The steel major had posted a profit of Rs 1,566.24 crore in the year-ago period.
The company's total income declined to Rs 58,863.22 crore in the January-March period of FY 2023 from Rs 63,131.0 crore.
Its revenue declined 6 percent due to lower realisations, but this was partially offset by higher volumes in India.
The company said the exceptional items were mainly related to the impairment of significant assets and restructuring costs related to the UK business.
