Tata Steel Q4 profit lifted by one-off United Kingdom pension gain

At 1.20pm Tata Steel shares were up 3.85% at Rs633.60 on BSE while Bhushan Steel shares rose 4.81% to Rs23.95

At 1.20pm Tata Steel shares were up 3.85% at Rs633.60 on BSE while Bhushan Steel shares rose 4.81% to Rs23.95

Revenue of the company jumped 16 percent to Rs 20817 crore against Rs 17917 crore. "We have also received CCI approval for this transaction", he said.

Koushik Chatterjee, executive director and chief financial officer, Tata Steel, said the possibility of delisting the stressed asset can not be ruled out.

Meanwhile, the Tata Steel management is looking to the hearing scheduled today (Thursday) at National Company Law Appellate Tribunal to see whether the NCLT orders is challenged.

Mr. Narendran said growth was broad-based across marketing segments and added Tata Steel Europe had a good quarter despite currency headwinds. "These are some of the smaller assets, some of them are spread out to multiple countries", said Chatterjee.


Tata Steel Ltd was helped to a quarterly profit of Rs 14,688 crore ($2.17 billion) by a one-off pensions gain, in contrast with an Rs 1,168 crore loss a year earlier.

The Indian steelmaker on Wednesday reported an exceptional gain of 113.76 billion rupees in the quarter to the end of March, which included a non-cash gain of 140.77 billion rupees relating to the restructuring of its British pension scheme.

Koushik Chatterjee, Executive Director and CFO, said FY18 has been a good year for the company and the group delivered a strong top and bottom line growth. The fall in production was due to technical snag led shutdown of a blast furnace at Kalinganagar plant.

The board of the company recommended a divided of Rs 10 per ordinary share of on face value of Rs 10 each and Rs 2.50 per partly paid ordinary share of Rs 10 each for the financial year 2017-18.

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