Tata Steel rises after May 3 reporte results net profitTata Steel on May 3 reported a consolidated net profit

Tata Steel reported a consolidated net profit of Rs 9,835.12 crore on 3 May, up 37.3 per cent year-on-year.

Tata Steel's share price rose in early trading on May 4, a day after the company posted its March quarter earnings.

Tata Steel reported a consolidated net profit of Rs 9,835.12 crore on 3 May, up 37.3 per cent year-on-year.

The firm also announced a 10:1 share split. India's largest steel manufacturer reported 39 per cent year-on-year growth (YoY) in consolidated revenue of Rs 69,323.

50 crore, with Tata Steel India showing 34 per cent growth at Rs 36,681 crore and Tata Steel Europe recording 53 per cent growth at Rs 26,389 crore.

On an operating level, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by six per cent to Rs 15,174 crore with EBITDA per tonne rising 3.7 per cent to Rs 18,937 from

the corresponding period last fiscal year, Tata Steel said in its BSE filing. The brokerage has maintained a retention rating on the stock with a target of Rs 1,240.

EBITDA fell five percent, while adjusted EBITDA remained stable  sequentially.EBITDA miss was driven by weak performance of non-TSE subsidiaries, CNBC-TV18 reported.