Tata Steel Q4 results: Net profit jumps 37% YoY to Rs 9,835 crore

Tata Steel reported a 37% rise in consolidated net profit
at Rs 9,835.12 for the quarter ended March 2022. The company had reported a net
profit of Rs 7,161.91 crore in the March 2021 quarter.

India’s largest steelmaker posted a 39% year-on-year
(YoY) growth in consolidated revenue at Rs 69,323.50 crore during the March
2022 quarter from Rs 50,300.55 crore in the same quarter of fiscal 2021.

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Tata Steel India’s revenue rose 34% YoY to Rs 36,681
crore and Tata Steel Europe posted a 53% growth at Rs 25,389 crore in the same
quarter.

In December 2021 quarter, the steelmaker reported a net
profit of Rs 9,572.67 crore with revenue from operations at Rs 60,783.11 crore.

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The company board has recommended a dividend of Rs 51 per
share. The company has also declared a proportionate dividend of Rs 12.76 per
equity share or 510% for the partly paid-up ordinary shares of the company.

The firm also announced a stock split at 10:1. The equity
shares of the company having a face value of Rs 10 each will be divided into 10
equity shares of Re 1 each.

In India business, Tata Steel reached its highest-ever
annual crude steel production of 19.06 million tonnes, registering a growth of
13%. The company reported deliveries of 18.2 million tonnes during the
financial year.

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For the entire fiscal year 2021-22, Tata Steel reported a
436% growth in net profit to Rs 40,153.93 crore compared to a net profit of Rs
7,490 in the previous financial year.

The company reported total revenue from operations at Rs
2,43,959.17 crore, registering a growth of 55.9% YoY. It had reported revenue
from operations of Rs 1,56,477.40 crore in the financial year 2020-21.

“Tata Steel has again demonstrated its ability to
deliver stellar results despite heightened complexity in the face of COVID as
well as geopolitical tensions,” TV Narendran, Chief Executive Officer
& Managing Director said.

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He further said Indian business showed broad-based
growth. Europe business delivered robust performance as the transformation
programme undertaken helped leverage the strong business environment.