Multibagger Tata stock slips 3% even as PAT soars for 16th straight quarter; brokerages bearish
With net debt to underlying EBITDA improving to 2.65x (from 2.73x in Q1 FY24) and net debt to equity improving to 1.02x (from 1.09x in Q1 FY24) during the quarter, the company’s balance sheet continues to strengthen.
The earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 51 percent to Rs 3,087 crore, leading to an all-time high EBITDA of Rs 6,092 crore in the first six months of FY24.