Results: Tata Steel posts Rs 7,162 cr net profit in March quarter; Board recommends dividend of Rs 25payments
Results: Tata Steel posts Rs 7,162 cr net profit in March quarter; Board recommends dividend of Rs 25payments

Tata Steel on Wednesday posted a consolidated net profit of Rs 7,161.91 crore for the quarter ended March 2021, mainly on account of higher income. The company had reported a net loss of Rs 1,615.35 crore in the year ago quarter, Tata Steel said in a BSE filing.

For FY 2021, the net profit of the company was at Rs 8,189.79 crore. The consolidated total expense of the company stood at Rs 1,42, 630.27 crore.

During January-March 2021, the company's total income jumped to Rs 50,249.59 crore from Rs 37,322.68 crore earlier.

Total expenses rose to Rs 40,052 crore from Rs 35,432.42 crore in the January-March period of 2019-20.

The company stated, the Board of directors "recommended a dividend of Rs 25 per fully paid-up ordinary share of Rs 10 each (250 per cent) to the shareholders of the Company for the Financial Year ended March 31, 2021."

In addition, in respect of the outstanding partly paid-up ordinary shares of the Company on which call money remains unpaid as on the date of book closure for the dividend payment, the dividend will be paid in proportion to the amount paid-up on such shares i,e. Rs 6.25 per partly paid-up ordinary Share of Rs 10 (paid-up Rs 2.504 per share) (250%).

Shares of the company on Wednesday ended at Rs 1,068.95 apiece, up 0.46 per cent on BSE.

(With input from agencies)

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