onsolidated revenue from operations during the January-March quarter fell 6.7 percent to Rs 58,687.3 crore.
The company plans to raise up to Rs 3,000 crore by issuing non-convertible debentures (NCDs) in one or more tranches on a private placement basis.
As of March 31, 2024, the company's tet debt stands at Rs 77,550 crore.
Its consolidated revenue from operations during the January-March quarter fell 6.7 percent to Rs 58,687.3 crore.
Meanwhile, the board also approved a proposal to infuse funds up to $2.11 billion (Rs 17,407.50 crore) into a wholly-owned subsidiary T Steel Holdings (TSHP) Singapore, to repay debt and to support the restructuring costs at Tata Steel UK.
onsolidated revenue from operations during the January-March quarter fell 6.7 percent to Rs 58,687.3 crore.
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Tata Steel's board of directors approved a plan to raise funds through the issuance of additional debt securities, the company informed stock exchanges on May 29. The company plans to raise up to Rs 3,000 crore by issuing non-convertible debentures (NCDs) in one or more tranches on a private placement basis.
The company said that the decision was made after a review of the steelmaker's financing plan. As of March 31, 2024, the company's tet debt stands at Rs 77,550 crore.
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"Our group liquidity remains strong at Rs 31,767 crores, which includes
cash & cash equivalents of Rs 9,532 crores," the company said in a press statement.
The company reported a 64 percent fall in fourth-quarter profit (attributable to owners) at Rs 611.48 crore, amid lower steel realizations and poor performance in the steelmaker's international operations.
Its consolidated revenue from operations during the January-March quarter fell 6.7 percent to Rs 58,687.3 crore.
On a sequential basis, consolidated revenue from operations increased six percent from Rs 55,311.88 crore in the previous quarter and net profit rose 19 percent from the previous quarter.
Meanwhile, the board also approved a proposal to infuse funds up to $2.11 billion (Rs 17,407.50 crore) into a wholly-owned subsidiary T Steel Holdings (TSHP) Singapore, to repay debt and to support the restructuring costs at Tata Steel UK.
