Tata Steel shares gain nearly 2 per cent post-Q4 results

Written by PTI | Mumbai | Updated: May 15 2014, 22:37pm hrs
Tata SteelFor the whole financial year 2013-14, Tata Steel has reported a profit of Rs 3,595 crore.
Shares of Tata Steel today ended nearly 2 per cent higher after the firm reported consolidated net profit of Rs 1,036 crore for the fourth quarter ended March.

After surging 3.5 per cent to Rs 468 -- its 52-week high in intra-day trade at the BSE -- the stock ended at Rs 460.70, up 1.89 per cent.

At the NSE, the scrip settled 1.91 per cent up at Rs 461.

In terms of volume, 25.79 lakh shares were traded at the NSE, while over one crore shares were traded at the NSE during the day.

Tata Steel had yesterday reported a consolidated net profit of Rs 1,036 crore for Q4, 2013-14 fiscal on the back of higher sales and margin improvement in domestic operations, coupled with an uptick in its European operations.

The company had reported a loss of Rs 6,529 crore in the same period of previous fiscal due to impairment charges.

Revenues during the January-March quarter stood at Rs 42,428 crore, up 22.5 per cent over the corresponding period a year ago.

Similarly, group's operating profit improved to Rs 4,917 crore against Rs 4,368 crore reported a year ago.

For the whole financial year, 2013-14 the company reported a profit of Rs 3,595 crore compared with a loss of Rs 7,058 crore previous fiscal. Net sales rose to Rs 1,47,347 crore from Rs 1,33,538 crore.