Tata Steel sees lower net profit in FY 2018-19

Friday, 26 April 2019 17:20:36 (GMT+3)   |   Istanbul

India-headquartered steel giant Tata Steel Group has issued its group financial results, including Tata Steel Europe, for the fourth quarter and the full financial year ended March 31, 2019.

Tata Steel Group recorded a net profit of INR 22.95 billion ($327.85 million) in the fourth quarter, compared to a net profit of INR 146.88 billion in the corresponding period of the previous financial year. The group's fourth quarter turnover amounted to INR 424.24 billion ($6.06 billion), increasing by 25.9 percent year on year. The group’s EBITDA totaled INR 78.14 billion ($1.11 billion) in the given quarter, rising by 33.4 percent year on year.

In the fourth quarter of the financial year 2018-19, Tata Steel Group’s consolidated steel deliveries amounted to 7.52 million mt, up 28.5 percent year on year.

In the full financial year 2018-19, Tata Steel’s net profit amounted to INR 91 billion ($1.3 billion), down 48.8 percent year on year. In the period in question, the group’s turnover totaled INR 1.6 trillion ($22.85 billion), rising by 27 percent year on year.

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