Tata Steel jumped up almost 5%, rising to Rs.538.85 and continues to figure among the top five gainers on the BSE currently. Its 52-week high is at Rs.646.70.

Ignoring the YoY 76% drop in consolidated net profit at Rs.2431 crore, the market has instead decided to concentrate on the small but nevertheless a 4% sequential increase in net profit. This net profit was much higher than what most analysts had estimated.

But YoY comparison is also not right as in previous Q4FY18, there was an exceptional income of Rs.10,153 crore on account of the restructuring of the UK pension scheme.

Its total revenue for the quarter rose 9% (QoQ) at Rs.42,424 crore.

Its Indian operations contributed 63% out of consolidated deliveries of 7.52 mn tons and Indian domestic sales grew by 12% (QoQ).

Consolidated ex-TSE adjusted EBITDA was at Rs.6,129 crore and EBITDA margin was at 20.3% with EBITDA per ton of Rs.12,393/ton.

The company reported a consolidated adjusted EBITDA of Rs.30,734 crore and PAT of Rs.9,098 crore in FY19.

Its gross debt reduced by Rs.17,864 crores in 2HFY19 and it extended its debt maturity, raising Rs.4,315 crore through 15 years bonds.