Tata Steel Q4 EBITDA drops 27% to Rs 3,040 cr

By Swati Khandelwal, Research Analyst at CNBC-TV18

Tata Steel, one of the ten largest steel companies in the world, has reported lower than expected consolidated net profit of Rs 433.5 crore for the Jan-March quarter of financial year 2011-12, a sharp fall of 89.62%, Year-on-Year. Net sales increased just 1.25% YoY to Rs 33,860 crore for the January-March quarter of 2012. Analysts on average had expected net profit of Rs 1,025 crore and net sales of Rs 33,673 crore during the quarter. The company will pay a dividend of Rs 12 a share, it said. Consolidated EBITDA dropped 27% YoY to Rs 3,040.34 crore during the quarter. Also watch the accompanying video...