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On Tuesday, Tata Steel reported a 38.4% YoY jump in its consolidated Total Income for the quarter ended in March 2022. The total income for this quarter is Rs 69,615.70 crores against Rs 50,300.55 crores.
The consolidated net profit of the company grew 37.3% YoY from Rs 7,161.91 crores last year to Rs 9,835.12 crores this quarter.
Segment-wise, Tata Steel India's revenues grew 34.1% YoYYoY while its Europe revenues grew 52.9%! However, the company's revenues from other South Asian countries declined 20.72% while its revenues from the remainder of the world fell negative.
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For the period of 12 months ended on 31st March 2022, the consolidated Total income surged a massive 55.52% YoY from Rs 157,373 crores last year to Rs 244,744.06 crores this year. Moreover, the company's profits for the whole year surged a massive 409.77%! The profit for last year was Rs 8,189.79 crores to Rs 41,749.32 crores.
The Board of the company has recommended a dividend of Rs 51 per share, its highest ever. Moreover, the company has also announced a stock split of 10:1 i.e. 1 share worth Rs 10 will be split into 10 shares of Rs 1 each.
A week ago, the share saw a sharp decline of 4.48% after falling for 4 consecutive trading sessions. The share saw some momentum as it gained some ground. Currently, the share has fallen over 1% and trades around Rs 1,281 per share.
Article by Aman Agarwal.
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