Q3FY17 Results: Tata Sponge Iron Ltd
Bhagyashree Vivarekar / 25 Jan 2017
Tata Sponge Iron Ltd. Ltd. reported its results for the quarter ended December 31, 2016 after market hours yesterday. The consolidated numbers were strong, aided by healthy operational revenue
Tata Sponge Iron Ltd. Ltd. reported its results for the quarter ended December 31, 2016 after market hours yesterday. The consolidated numbers were strong, aided by healthy operational revenue.
The total sales for Q3FY17 came in at Rs 157.58 crore, which represents a 3.07 per cent sequential increase and 2.01 per cent YoY increase.
The operating profit (EBIT) for the quarter amounted to Rs 7.53 crore and the EBIT margin stood at 4.78 per cent.
in terms of the bottomline, the company reported a PAT figure of Rs 10.97 crore, which represents a sequential QoQ decline of 31.69 per cent and a YoY increase of 108.95 per cent.
The company's stock, which opened for trading at Rs. 629 on the BSE, and fell marginally after closing at Rs 621.
Tata Sponge Iron Ltd is an associate company of Tata Steel. The company is engaged in the manufacturing of sponge iron. The company is also a captive power producer. The company’s revenue is majorly driven by sponge iron business.
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