Tata Steel’s Tinplate Company of India has reported that its profit after tax fell by 62% YoY to INR 36.4 crore in October-December 2022 quarter as compared to INR 9 crore a year ago. Operating profit also fell by 61% YoY INR 53.13 crore from INR 134.78 crore in the same period a year ago while revenue was down 19% to INR 960 crore in compared to INR 1,180 crore in the year-ago quarter.For April-December 2022, its profit after tax fell to INR 86.26 crore in as compared to INR 238.49 crore a year ago while revenue was down 19% to INR 960 crore in compared to INR 2925.99 crore in the year-ago quarter.Tata Steel in September 2022 said that it will combine all metal companies of the Tata Group into itself. Under the agreement, for every 10 shares of Tinplate Company of India, investors got 33 shares of Tata Steel. Through the merger, Tata Steel planned to focus on growth, operational efficiencies, and business synergies. On completion of the merger, there will be further opportunities for reduction of overhead and corporate costs and each of the proposed amalgamations will be value-accretive for shareholders
Tata Steel’s Tinplate Company of India has reported that its profit after tax fell by 62% YoY to INR 36.4 crore in October-December 2022 quarter as compared to INR 9 crore a year ago. Operating profit also fell by 61% YoY INR 53.13 crore from INR 134.78 crore in the same period a year ago while revenue was down 19% to INR 960 crore in compared to INR 1,180 crore in the year-ago quarter.For April-December 2022, its profit after tax fell to INR 86.26 crore in as compared to INR 238.49 crore a year ago while revenue was down 19% to INR 960 crore in compared to INR 2925.99 crore in the year-ago quarter.Tata Steel in September 2022 said that it will combine all metal companies of the Tata Group into itself. Under the agreement, for every 10 shares of Tinplate Company of India, investors got 33 shares of Tata Steel. Through the merger, Tata Steel planned to focus on growth, operational efficiencies, and business synergies. On completion of the merger, there will be further opportunities for reduction of overhead and corporate costs and each of the proposed amalgamations will be value-accretive for shareholders
