Tata Steel Ltd suffers net loss of Rs 1,615 crore for Q4FY20

New Delhi: Tata Steel Ltd suffered a consolidated net loss of Rs 1,615 crore for the fourth quarter of the fiscal 2019-20 as compared a net profit of Rs 2,295 crore in the corresponding quarter of the previous fiscal.

The company’s consolidated revenues from operations fell 20 percent to Rs 32,866 crore for the fourth quarter of the fiscal 2019-20 as compared to Rs 41,186 crore in the corresponding quarter of the previous fiscal.

The consolidated production of steel for the fourth quarter of 2019-20 fiscal went up 2.2 percent to 7.37 million tone. The deliveries dropped 13.6 percent to 6.5 million tonne. 

Consolidated EBITDA of Tata Steel went down 38 percent to Rs 4,646.9 crore. The margin declined 390 basis points to 13.8 percent.

The company’s consolidated net profit tanked 87 percent to Rs 1,172 crore for the entire fiscal 2019-20 as compared to a net profit of Rs 9,098 crore in the previous fiscal.

The company’s consolidated revenues from operations declined 11 percent to Rs 1,36,976 crore for the entire fiscal 2019-20 as compared to Rs 1,54,691 crore in the previous fiscal.

The consolidated total expenses of the company declined to Rs 33,272 crore in the fourth quarter of the 2019-20 fiscal as compared to Rs 38,728 crore in the corresponding quarter of the previous fiscal. The consolidated total expenses of the company decreased to Rs 1,38,327 crore in the 2019-20 fiscal as compared to Rs 1,43,287 crore in the previous fiscal, the company said in a regulatory filing.

The company said that now when the lockdown is being eased in phase, there has been an increase in upstream steel production by the company and the present capacity utlisation is about 80 percent.

Even in Europe, the company continues has about 70 percent capacity utilisation. The company further said that the main steel consuming industries like automobile and real estate-construction is still affected due to lockdown and various other reasons. 

 

 

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