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Tata Steel shares close 3 pc higher after March quarter earnings

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.

Published: 06th May 2021 05:25 PM  |   Last Updated: 06th May 2021 05:25 PM   |  A+A-

Tata Steel

A signboard at a Tata Steel plant (File photo | AFP)

By PTI

NEW DELHI: Shares of Tata Steel on Thursday closed with a gain of 3 per cent after the firm posted a consolidated net profit of Rs 7,161.91 crore for the quarter ended March 2021.

The stock jumped 5.59 per cent to its 52-week high of Rs 1,128.80 on the BSE during the day. It closed at Rs 1,100.55, a gain of 2.96 per cent.

On the NSE, it closed 3.06 per cent higher at Rs 1,103. During the day, it rallied 5.49 per cent to Rs 1,129 -- its one-year high.

In traded volume terms, 21.28 lakh shares were traded at the BSE and over 4.64 crore units at the NSE during the day.

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.

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.

On a standalone basis, Tata Steel reported a Rs 6,593.54 crore net profit during the January-March quarter.

The company had clocked a standalone net loss of Rs 436.83 crore in the year-ago period.

Its total income grew to Rs 21,392.34 crore from Rs 14,182.79 crore a year ago.

Tata Steel said its board has also recommended a dividend of Rs 25 per fully paid-up ordinary share of Rs 10 for the financial year ended March 31, 2021. 



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