Tata Steel Long Products Ltd.
Q3FY22 Quarterly Result Announced for Tata Steel Long Products Ltd.
Metals and Mining company Tata Steel Long Products declares Q3FY22 result:
- Tata Steel Long Products revenue crosses Rs. 5,000 crores in 9MFY22; Strong operating cash flow drives reduction in Net debt to Rs 108 crores
- Crude Steel production grew by 12% YoY and total deliveries increased by 6% YoY on the back of continued economic recovery in 9MFY22.
- During 3QFY22, Crude steel production and deliveries were marginally lower by 2% QoQ due to maintenance shutdown.
- Continued focus on mix enrichment and higher steel prices led to an increase of 2% QoQ to Rs. 1,677 crores in Revenue from operations.
- EBITDA stood at Rs 255 crores, lower on QoQ basis. However, 2QFY22 EBITDA included certain one-off gains. Profit after tax stood at Rs 104 crores.
- Gross debt decreased to Rs. 777 crores with prepayments of Rs. 636 crores in 9M FY22. Net debt declined to Rs. 108 crores. Net debt to EBITDA improved to 0.07x; Net debt to equity stood at 0.03x.
- Tata Steel Long Products (“TSLP”) long term issuer rating has been upgraded by India Ratings and Research to ‘IND AA ’ with stable outlook.