Tata Steel has posted a net profit for the full year (ending Mar 11) of the current fiscal (FY11). The company registered a net profit of Rs 8983 crore in comparison to Rs 2009 crores net loss in the same period (ending Mar 10) of previous year(FY10). The profit is also boosted by a one-time gains of Rs 2091 crore from sales of Teesside Cast Products, a slab manufacturing facility mothballed in February 2010. Tata Steel is one of the world’s largest steel producer.
The company informed the market(BSE) that the total income / sales rose to Rs 1.19 lakh crore in full year (ending Mar 11) of the current fiscal (FY11) in comparison to Rs 1.03 lakh crores of previous year(FY10).
The Indian operations registered a 36% growth in annual profits because of favorable market conditions and similarly European operation’s earning rose to Rs 4,204 crore compared with loss of Rs 1,351 crore a year ago.
Share’s Data :
BSE Code : 500470
Mkt. Cap: Rs 40172 Crores
Tata Steel Ltd share’s CMP is Rs 561.50 on 25th May 2011.
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