Tata Steel Consol PAT at Rs 554.6 Cr; Group Firm to Pay Dividend of Rs 3.6

Tata Steel reported a consolidated net profit of 554.6 crore rupees on Wednesday, May 29, for the quarter ended March 2024. The Q4FY24 net profit dropped by almost 64.59% on-year compared to 1,566 crore rupees in Q4FY23.

Key Takeaways from Tata Steel’s Performance:

• Consolidated net profit fell 65% to 554.6 crore rupees in Q4FY24.
• Sales in Q4FY24 stood at 58,687.3 crore rupees, down nearly 7%.
• EBITDA dropped 8.6% on a Y-o-Y basis to 6,600.7 crore rupees. 
• The dividend was recommended at Rs 3.60 per equity share, 

The company’s revenue from operations in Q4FY24 came in at 58,687.3 crore rupees, down nearly 7% from 62,961 crore rupees in the same quarter a year ago.

Tata Group’s EBITDA dropped 8.6% on a Y-o-Y basis to 6,600.7 crore rupees in the fourth quarter of FY24 against 7,219 crore rupees EBITDA in Q4FY23. Further, Tata Steel reported a margin of 11.5% in Q4FY23.

The Group steel firm also recommended a dividend of Rs 3.60 per equity share or 360%, against the face value of Rs 1 each. The Board fixed June 21, 2024, as the record date for determining the shareholders entitled to receive the dividend for Q4FY24.

‘The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of applicable tax at source, on and from Friday, July 19, 2024,’ the company stated in an exchange filing.

About Tata Steel Limited:

Tata Steel was established in 1907, in India, as Asia’s first integrated private steel company. The company has developed India’s first industrial city Jamshedpur. Today, Tata Steel is among the leading global steel companies with an annual crude steel capacity of nearly 20 million tonnes per annum and a registered turnover of 1,37,030 crore rupees in FY23. The company’s second greenfield steel plant of 3 million tonnes per annum was set up in the eastern state of Odisha in 2016. Tata Steel’s product portfolio is divided into four segments namely automotive and special products, industrial products, projects and exports, branded products and retail among others. 

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