Tata Sponge Iron slips on reporting 48% fall in Q4 consolidated net profit

Mumbai : Tata Sponge Iron is currently trading at Rs. 746.50, down by 21.05 points or 2.74% from its previous closing of Rs. 767.55 on the BSE. The scrip opened at Rs. 749.00 and has touched a high and low of Rs. 752.15 and Rs. 742.90 respectively. So far 2925 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1169.00 on 04-May-2018 and a 52 week low of Rs. 660.00 on 29-Jan-2019.

Last one week high and low of the scrip stood at Rs. 794.45 and Rs. 750.30 respectively. The current market cap of the company is Rs. 1150.15 crore. The promoters holding in the company stood at 54.50% while Institutions and Non-Institutions held 6.17% and 39.33% respectively. Tata Sponge Iron has reported a fall of 47.82% in its net profit at Rs 24.37 crore for the quarter under review as compared to Rs 46.70 crore for the same quarter in the previous year. However, total income of the company increased by 5.44% at Rs 269.03 crore for Q4FY19 as compared Rs 255.16 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 47.76% in its net profit at Rs 24.39 crore for the quarter under review as compared to Rs 46.69 crore for the same quarter in the previous year. However, total income of the company increased by 5.44% at Rs 269.05 crore for Q4FY19 as compared Rs 255.17 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 11.73% in its net profit at Rs 124.34 crore as compared to Rs 140.86 crore for the previous year. However, total income of the company increased by 22.11% at Rs 1,049.72 crore for year under review as compared to Rs 859.66 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 11.70% in its net profit at Rs 124.39 crore as compared to Rs 140.88 crore for the previous year. However, total income of the company increased by 22.11% at Rs 1,049.78 crore for year under review as compared to Rs 859.71 crore for year ended March 31, 2018.