Tata Steel’s stock moved up by more than 2% in Thursday morning’s session after the company posted a steady improvement in its September quarter numbers on a QoQ basis. The steel major reported healthier revenue, stronger operating performance, and a sharp jump in profitability. As of 9:35 AM, the shares were trading 2.12% higher at Rs 182.39.
For Q2 (Consolidated, QoQ), the company’s revenue came in 10.4% higher at ₹58,689 crore, compared to ₹53,178 crore in the previous quarter. Its EBITDA also improved, rising 19.8% to ₹8,897 crore from ₹7,427 crore, helping the operating margin expand to 15.2% from 14%.
The bottom line saw the strongest improvement. Tata Steel posted a 49.3% jump in net profit at ₹3,102 crore, up from ₹2,078 crore in the June quarter.
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