Tata Steel swings to consolidated Q4 net profit of Rs 1,036
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Tata Steel Ltd on Wednesday announced that it returned to profitability in the fourth quarter of FY 2013-14 amid higher revenue from domestic operations and an improvement in margins from its European business. The company posted a consolidated net profit of Rs 1,036 crore in the fourth quarter ended March 31, 2014. In Q4 FY 2012-13, the company had reported a consolidated net loss of Rs 6,529 crore, Tata Steel Ltd said in a filing to the Bombay Stock Exchange (BSE). Net sales on a consolidated basis grew by 23 per cent to Rs 42,018 crore in Q4 FY 2013-14 from Rs 34,219 crore in the same period a year ago helped by higher sales volumes. “Despite weak market conditions in India, we have achieved higher sales and generated higher EBITDA margin of 32 per cent for the year. Our European operations also showed a strong recovery in FY14 with EBITDA margin improving by 257 basis points over the year," Group Executive Director (Finance and Corporate) of Tata Steel, Koushik Chatterjee said. "European operations have improved on the back of our relentless focus on operational reliability," Managing Director and Chief Executive Officer of Tata Steel Europe, Karl-Ulrich Kohler said.
Tata Steel Ltd on Wednesday announced that it returned to profitability in the fourth quarter of FY 2013-14 amid higher revenue from domestic operations and an improvement in margins from its European business. The company posted a consolidated net profit of Rs 1,036 crore in the fourth quarter ended March 31, 2014. In Q4 FY 2012-13, the company had reported a consolidated net loss of Rs 6,529 crore, Tata Steel Ltd said in a filing to the Bombay Stock Exchange (BSE). Net sales on a consolidated basis grew by 23 per cent to Rs 42,018 crore in Q4 FY 2013-14 from Rs 34,219 crore in the same period a year ago helped by higher sales volumes. “Despite weak market conditions in India, we have achieved higher sales and generated higher EBITDA margin of 32 per cent for the year. Our European operations also showed a strong recovery in FY14 with EBITDA margin improving by 257 basis points over the year," Group Executive Director (Finance and Corporate) of Tata Steel, Koushik Chatterjee said. "European operations have improved on the back of our relentless focus on operational reliability," Managing Director and Chief Executive Officer of Tata Steel Europe, Karl-Ulrich Kohler said.
