Tata Steel on Monday posted a 43% decline in net profit at Rs 295.49 crore for the third quarter ended December 31 (Q3 FY25).
Net profit of Tata Steel compared to Rs 522.14 crore in the same period last year. The company sequentially posted a steeper fall in net profit at 61.1 per cent from Rs 758.84 crore in the preceding quarter (Q2 FY25), said the company's exchange filing.
The Tata Group company’s revenue from operations also declined by 2.7 per cent year-on-year, at Rs 53,231 crore for the October-December 2024 quarter compared to Rs 54,727.30 crore in Q3 FY24.
The revenue saw a marginal dip of 2.3 per cent from Rs 54,503.30 crore reported in Q2 FY25, according to its filing.
The total (EPA:TTEF) income for the quarter was Rs 53,869.33 crore. It declined 3 per cent from Rs 55,539.77 crore in the year-ago period. Quarter-over-quarter, it slightly declined from Rs 54,503.30 crore.
Tata Steel's total expenses for Q3 FY25 stood at Rs 52,118.09 crore, down 2.3 per cent compared to Rs 53,351.13 crore in the same quarter last year. Sequentially, expenses dipped 0.4 per cent from Rs 52,331.58 crore in Q2 FY25.
The fall in its expenses was mainly due to lower expenditure on 'Employee Benefits Expense' and 'Other Expenses', the company said, which had tumbled dramatically by 11.6 per cent to Rs 17,742 crore from Rs 20,074.73 crore a year ago period.
The 'Employee Benefits' segment for Tata Steel dropped by nearly 7 per cent to Rs 6,072 crore in the third quarter compared with Rs 6,527 crore in the same period last year.
Tata Steel shares fell 2.77 per cent to Rs 126.40 on Monday compared to the previous session's Rs 130.
The stock has been under pressure, hitting its 52-week low of Rs 122.60 on January 13. It had reached a 52-week high of Rs 184.60 on June 18. As of January 27, Tata Steel's market capitalisation stood at Rs 1,57,790.72 crore.
Tata Steel shares have yielded a spectacular 200 per cent return to investors over the last five years. However, the stock has remained subdued in the past one year also as it declined 6.26 percent. The shares are trading 7.45 percent lower so far this year in 2025.
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