New Delhi: Tata Steel has posted over twofold increase in consolidated net profit to Rs 1,200.88 crore in the March quarter, on account of higher income.
It had posted a profit after tax (PAT) of Rs 554.56 crore in the January-March period of the preceding 2023-24 fiscal year, the company said in an exchange filing.
The company's total income declined to Rs 56,679.11 crore from Rs 58,863.22 crore in the year-ago quarter.
Tata Steel reduced expenses to Rs 54,167.61 crore from Rs 56,496.88 crore in the year-ago period.
The company posted a net profit of Rs 3,173.78 crore in FY25. It had reported a loss of Rs 4,909.61 crore loss in the preceding financial year.
The board also recommended a dividend of Rs 3.60 per ordinary (equity) share of face value Re 1 each (360 percent) to the shareholders of the company for FY25.
It further gave a go-ahead to the proposal, under the foreign exchange regulations, to infuse funds up to USD 2.5 billion (Rs 21,410.95 crore), by way of subscription to equity shares of T Steel Holdings Pte Ltd (TSHP), a wholly owned foreign subsidiary of the Company, in one or more tranches, during the current fiscal year.
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