Tata Steel Long Products Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Net sales during the quarter increased by 78.9% to Rs 3568.24 crore from Rs 1994.25 crore recorded in the same period last year.

Total expenditure of Tata Steel Long Products rose by 65.2% to Rs 3407.20 crore in Q1 FY24 over Q1 FY23, due to sharp spike in raw material costs (up 31.8% YoY), employee expenses (up 77.2% YoY) and other expenses (up 96.7% YoY).

The company posted a pre-tax loss of Rs 328.94 in the first quarter of FY24. Pre-tax loss in the corresponding period last fiscal was Rs 334.80 crore.

Tata Steel Long Products has presence across the entire value chain of steel manufacturing from mining and processing iron ore to producing and distributing steel based long products. The company also has sponge iron manufacturing facility and captive power plants generating power from waste heat and thermal coal.

The scrip had advanced 1.33% to end at Rs 710.25 on the BSE on Friday.

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Net Loss of Tata Steel Long Products reported to Rs 36.49 crore in the quarter ended June 2023 as against net loss of Rs 331.09 crore during the previous quarter ended June 2022. Sales declined 4.24% to Rs 1909.62 crore in the quarter ended June 2023 as against Rs 1994.25 crore during the previous quarter ended June 2022.

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Tata Steel Long Products announced that the 40th Annual General Meeting (AGM) of the company will be held on 2 August 2023.

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Tata Steel Long Products will hold a meeting of the Board of Directors of the Company on 14 July 2023.

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