Tata steel BSL’s net profit soars in Q4 amid growth in sales volumes and better earnings on higher steel prices. In Q4, the company’s consolidated net profit more than doubled to Rs19,133.5mn from Q3 and grew exponentially from the prior-year quarter’s profit of Rs59.3mn.
For the full year 2021, Tata steel BSL’s consolidated net sales revenue increased by 15.9pc to Rs199.76bn from a year ago, while net profit was Rs25.18bn compared to a loss of Rs6.284bn in FY2020.
The company’s earnings grew driven by higher sales volumes, better product mix and improved realisation on higher steel prices in the domestic and global market. Sales volume in Q4 rose to 1.19 mt, up by 22pc from the prior year and 4pc from Q3 amid a strong recovery in steel demand, while sales volume increased by 4pc from the prior year to 4.31mn mt in FY2021. Robust steel demand from the auto sector and higher raw material prices in the international market supported higher steel prices in Q4.
|Tata steel BSL results|
|Unit: Rs mn||Q4FY2021||Q4FY2020||Change YoY||FY2021||FY2020|
Tata Group company and a subsidiary of Tata Steel, Tata Steel BSL is India’s largest steel producer.