Tata Steel Q1 profit falls 21% sequentially as one-time loss weighs
Tata Steel reported June-quarter consolidated net profit of Rs 2,318 crore, down 20.8% from the March quarter, after a Rs 345 crore one-time loss. Revenue fell 3.9% to Rs 60,794 crore and EBITDA declined 5.7% to Rs 9,264 crore, though both exceeded estimates.
Tata Steel’s June-quarter consolidated profit fell 21% sequentially to Rs 2,318 crore, affected by a Rs 345 crore one-time loss. Revenue declined 4% to Rs 60,794 crore, while EBITDA fell 6% to Rs 9,264 crore; revenue and EBITDA exceeded estimates.
Why this matters
Tata Steel's reported sequential Q1 decline contrasts with a recent signal of an 11.6% Q1 profit rise, while aligning with forecasts of up to a 7% profit fall despite double-digit sales growth. Higher India prices had been expected to cushion seasonal volume weakness.
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