Tata Steel posts significant drop in net profit for March quarter

Friday, 18 May 2012 17:12:23 (GMT+3)   |  
       

India-headquartered steel giant Tata Steel Group has issued its group financial results including Tata Steel Europe for the fourth quarter and the twelve months ended March 31 of the financial year 2011-12, posting a bigger than expected decrease in its fourth quarter net profit.

Tata Steel Group's net profit was INR 4.33 billion ($85 million) in the last quarter, down 89 percent year on year. For the full financial year, the group registered a net profit of INR 53.9 billion ($1.06 billion), decreasing by 40 percent compared to the previous financial year.

The group's consolidated net sales in the fourth quarter saw an increase of 1.24 percent year on year to INR 338.6 billion ($6.22 billion), while the company's net sales for the full financial year increased to INR 1.32 trillion ($24.25 billion), up 12.8 percent year on year.

According to the company's statement, the group's steel deliveries in the full financial year fell marginally by 1.1 percent to 24.22 million mt, while steel deliveries in the last quarter decreased by 6.5 percent to 6.22 million mt, both year on year.


Similar articles

Tata Steel registers increase in net profit for Q1 FY 2012-13

14 Aug | Steel News

Tata Steel posts net loss for Q3 FY 2011-12

10 Feb | Steel News

Tata Steel sees positive results in H1 FY 2011-12 despite overall market conditions

14 Nov | Steel News

Tata Steel posts threefold increase in net income in Q1 FY 2011-12

12 Aug | Steel News

Tata Group’s net profit rises by 72 percent in Q1

26 May | Steel News

Tata Steel registers increase in net profit for Q1 FY 2012-13

14 Aug | Steel News

Tata Steel posts net loss for Q3 FY 2011-12

10 Feb | Steel News

Tata Steel sees positive results in H1 FY 2011-12 despite overall market conditions

14 Nov | Steel News

Tata Steel posts threefold increase in net income in Q1 FY 2011-12

12 Aug | Steel News

Tata Group’s net profit rises by 72 percent in Q1

26 May | Steel News