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Another bumper quarter for Tata Steel as sales may grow 24% YoY

MUMBAI: is set to report another stellar set of numbers for March quarter on Wednesday, and analysts expect the company’s revenues to jump 24 per cent on a year-on-year basis to Rs 41,868 crore.

A strong topline performance and a series of price hikes taken during the quarter are expected to boost the company’s operating performance during the quarter, analysts said. Tata Steel’s operating profit is likely to soar 239 per cent year on year to Rs 12,401.70 crore.

Tata Steel’s strong operating performance is underpinned by the price hikes taken by the company due to robust global steel prices. Brokerage firm Kotak Institutional Equities expects the company’s operating profit per tonne to more than double on year to Rs 26,678 crore, while average realizations are projected to grow 25 per cent year-on-year to Rs 61,105 crore.

The strong topline and operating performance are likely to help the company report Rs 6,778 crore profit for the quarter against a net loss of Rs 436.8 crore in the year-ago quarter.

Investor focus will also be on the management’s commentary on domestic demand in light of the state-level lockdowns across the country due to the second wave of Covid. Investors will also look for commentaries on the company’s ability to further raise prices in the coming months.

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