Tata Steel Q1 PAT doubles to Rs 19.34 bn YoY, Ebitda at 20-quarter high

Increase in expenses by about Rs 60 billion on year on year basis led to a lower than expected bottom line for Tata Steel

Tata Steel, the country's oldest steel producer, saw it's bottom line more than double as it reported a consolidated net profit at Rs 19.34 billion  for the quarter ended June 30.
 

 In the corresponding period last year, the company had churned a profit of Rs 921 correct.

"Better realisations and improved spreads lent firm support to the bottom line of the company," Koushik Chatterjee, Executive Director and Chief Financial Officer told reporters at the earnings conference held here.

Tata Steel's top line in the period under review stood at Rs 378.33 billion, up 22 per cent from same period last year