27 February 2009
Corporate News

Tata Steel reports consolidated results for third-quarter 2008-09

Tata Steel, a global Top Ten steelmaker and the world’s second most geographically diverse producer, today declared unaudited Consolidated Group Financial Results for the quarter and nine months ended December 31 2008.

Highlights for the third quarter:

  • Group consolidated turnover rose to Rs. 33,223 crores (US$ 6.84 billion), up 4% from the third quarter of 2007-08 (Q3 FY’08).
  • EBITDA at Rs. 2,971 crores (US$ 0.61 billion), was lower by 27% from Q3 FY’08.
  • Earnings before exceptional items and tax fell to Rs. 892 crores (US$ 0.18 billion), down 55% from Q3 FY’08.
  • Total steel deliveries for the quarter dropped 25% to 6.0 million tonnes from 8.0 million tonnes in Q3 FY’08.
  • Tata Steel became the first integrated steel company in the world, outside Japan, to be awarded the coveted Deming Application Prize for excellence in Total Quality Management.

Financial results summary (under Indian GAAP) for the third quarter and nine months ended December 2008.

Rs. Crores

 

Q3 FY'09

Q3 FY'08

Highlights

9M FY'09

9M FY'08

 

Proforma

As Reported 

 

 

Proforma

As Reported 

 6.0

 8.0

 8.0

Steel deliveries (mn tons)

22.6 

23.5 

 23.5

33,223

2,971

8.9%

1,085

911

692

2.1%

32,074

4,059

12.7%

1,004

1,059

2,208

6.3%

 32,074

4,059

12.7%

1,004

1,059

2,173

6.8%

Turnover

EBITDA

EBITDA Margin

Depreciation

Net Finance Charges

PBT

PBT Margin

 121,073

18,384

15.2%

3,337

2,557

11,469

9.5%

 95,891

13,744

14.3%

3,038

3,281

7,893

8.2%