Tata Steel group's after-tax profit doubles to Rs1,003 crore in Q3
15 Feb 2011
Tata Steel has reported a 112 per cent rise in its consolidated after-tax group profit for fiscal third quarter ended 31 December 2010, at Rs1,003 crore ($224 million) against a net profit of Rs473 crore ($106 million) in the corresponding quarter of the previous financial year (ended 31 December 2009).
During the first nine months of the financial year 2010-11 (April-December 2010), the group recorded a profit after tax (after minority interest and share of profit of associates) of Rs4,807 crore ($1.08 billion) against a loss of Rs4,443 crore ($994 million) in April-December 2009, an improvement of Rs9,250 crore ($2.07 billion).
Group EBITDA (earnings before interest, tax, depreciation and amortisation) in the October-December 2010 quarter at Rs3,374 crore ($755 million) was, however, 0.8 per cent lower compared to the Q3 FY10 EBDTA of Rs3,401 crore ($761 million).
Group EBITDA during April-December 2010 stood at Rs12,399 crore ($2.8 billion) against Rs4,007 crore ($896 million) in the similar period of the previous financial year.
Consolidated group turnover at Rs29,089 crore ($6.5 billion) in Q3 FY'11 was up 11 per cent compared to Rs26,202 crore ($5.86 billion) in Q3 FY'10.
Consolidated group turnover for the nine months ended 31 December 2010 was up 13.4 per cent at Rs84,929 crore ($19 billion) against Rs74,889 crore ($16.75 billion) in the similar period of the previous fiscal.