Metals and Mining company Tata Steel Long Products declares Q3FY22 result: Tata Steel Long Products revenue crosses Rs. 5,000 crores in 9MFY22; Strong operating cash flow drives reduction in Net debt to Rs 108 crores Crude Steel production grew by 12% YoY and total deliveries increased by 6% YoY on the back of continued economic recovery in 9MFY22. During 3QFY22, Crude steel production and deliveries were marginally lower by 2% QoQ due to maintenance shutdown. Continued focus on mix enrichment and higher steel prices led to an increase of 2% QoQ to Rs. 1,677 crores in Revenue from operations. EBITDA stood at Rs 255 crores, lower on QoQ basis. However, 2QFY22 EBITDA included certain one-off gains. Profit after tax stood at Rs 104 crores. Gross debt decreased to Rs. 777 crores with prepayments of Rs. 636 crores in 9M FY22. Net debt declined to Rs. 108 crores. Net debt to EBITDA improved to 0.07x; Net debt to equity stood at 0.03x. Tata Steel Long Products (“TSLP”) long term issuer rating has been upgraded by India Ratings and Research to ‘IND AA+’ with stable outlook. Result PDF