13 November 2018 Tata Steels (TATA) 2QFY19 consol. EBITDA increased 38% QoQ to INR89b, largely aided by one-offs (forex gains of INR9.7b and other gains of INR12.6b). Finance cost shot up 29% QoQ (+59% YoY) to INR21b due to the full impact of acquisition debt. perpetual bonds) remained stable QoQ at ~INR1,065b. FCF was offset by forex loss of INR35b during the quarter. EBITDA increased 18% QoQ to INR60b, driven by a 7% increase in volumes, 2% increase in steel prices and forex gains. Adj. EBITDA/t was flat QoQ at ~INR18,000. reported strong sales of 1.14mt on destocking, while production was flat QoQ at 1.