Tata Steel Q1FY25 net profit rises 51.4% YoY to Rs 959.61 cr

Tata Steel announced its financial results for the first quarter of FY25, reporting consolidated revenues of Rs 54,771 crores and an EBITDA of Rs 6,822 crores, reflecting an EBITDA margin of approximately 12.5%.

The company invested Rs 3,777 crores in capital expenditure during the quarter, with the phased commissioning of the 5 MTPA expansion at Kalinganagar progressing towards the planned blast furnace start-up in September 2024.

The company's net debt stood at Rs 82,162 crores, while group liquidity remained strong at Rs 36,460 crores, including cash and cash equivalents of Rs 10,799 crores.

In India, Tata Steel reported revenues of Rs 33,194 crores and an EBITDA of Rs 7,029 crores, resulting in an EBITDA margin of 21%. Crude steel production was approximately 5.27 million tons, a 5% increase year-on-year, with deliveries reaching 4.94 million tons, driven by a 4% rise in domestic deliveries.

The Automotive segment recorded its best-ever first-quarter sales, while Tata Tiscon deliveries increased by 15% year-on-year, leading to the best quarterly sales figures.

In the UK, Tata Steel reported revenues of £646 million, with an EBITDA loss of £91 million. Liquid steel production and deliveries were both at 0.68 million tons.

In the Netherlands, the company posted revenues of £1,344 million, with an EBITDA of £43 million for the quarter.

On a per-ton basis, EBITDA improved by £48 compared to the previous quarter.

Liquid steel production was 1.69 million tons, and deliveries reached 1.47 million tons, showing growth on both quarter-on-quarter and year-on-year bases.

Tata Steel also announced the commencement of the closure of heavy-end assets at its Port Talbot facility, beginning with the shutdown of Blast Furnace #5 in early July 2024. The closure of Blast Furnace #4 is scheduled for September 2024.