Tata Steel Posts Twofold Rise in Q4 Profit to Rs 1,200 Crore

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 per cent) 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 $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.