Tata Steel falls despite operating profit surprise

Shares of Tata Steel Ltd fall 2.3 percent, surprising traders even as the company's consolidated operating profit for October-December rose 8 percent to Rs 40.1 billion from the previous quarter, beating estimates.

EBITDA per metric tonne was the big positive surprise as it increased 68 percent quarter-on-quarter to $43, analysts say, raising hopes about profitability.

Traders cite some profit-taking after the stock rose 12.8 percent in the five sessions till Tuesday after ArcelorMittal, the world's biggest steelmaker, last week forecast higher profit for this year, compared with a mere 1 percent rise in the Nifty in the same period.

Tata Steel posted a net profit of 5 billion rupees for the December-ending quarter, compared with a net loss of 7.89 billion rupees a year ago.

That missed some estimates because of one-time tax provisions, although some traders say it had been broadly factored in.

Shares in Tata Steel were down 3 percent at 10:56 a.m.


  • India’s economic recovery has to be consumption, and not investment, led

    It is well accepted that falling global commodity prices, especially oil, have helped the Indian economy regain lustre in the past year or so.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Purnendu Ghosh

Too shy people love themselves too much

We are essentially shy people. Our extent of shyness, however, ...

Shona Adhikari

When nature and naturism have a date

DAG Modern has announced its forthcoming exhibition The Naked and ...


William D. Green

Chairman & CEO, Accenture