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      Tata Steel gains after announcing Q4 results

      MoM Team / Mumbai, May 17, 2017 09:33 AM IST

        Tata Steel gains after announcing Q4 results

        Tata Steel rose 4.4 percent to Rs 477.05 on BSE after the company reported consolidated net loss of Rs 1168.02 crore in Q4 March 2017, compared with net loss of Rs 3041.88 crore in Q4 March 2016.

        The result was announced after market hours yesterday, 16 May 2017.

        Meanwhile, the S&P BSE Sensex was down 3.18 points or 0.01 percent at 30,579.42.

        On the BSE, 9.46 lakh shares were traded on the counter so far as against the average daily volumes of 7.09 lakh shares in the past one quarter. The stock had hit a high of Rs 476.40 and a low of Rs 466 so far during the day.

        The stock had hit a 52-week high of Rs 508.45 on 17 March 2017 and a 52-week low of Rs 297.40 on 24 June 2016. It had underperformed the market over the past one month till 16 May 2017, declining 1.51 percent compared with the Sensex's 3.81 percent rise.

        The scrip had also underperformed the market over the past one quarter, sliding 2.72 percent as against the Sensex's 8.06 percent rise.

        The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

        On consolidated basis, Tata Steel reported a pre-exceptional profit after tax (PAT) from continuing operations at Rs 3352 crore in Q4 March 2017 as against loss of Rs 453 crore in Q4 March 2016.

        The company's consolidated net sales rose 29.6 percent to Rs 33424.09 crore in Q4 March 2017 over Q4 March 2016.

        Tata Steel's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 217.8 percent to Rs 6982 crore in Q4 March 2017 over Q4 March 2016.

        On consolidated basis, there was exceptional expense of Rs 4069 crore in Q4 March 2017 as against exceptional expense of Rs 2296 crore in Q4 March 2016.

        Tata Steel's board recommended a dividend of Rs 10 per share for the financial year ended 31 March 2017.

        Tata Steel is the world's second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.


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