Tata Steel Q3 net profit dips 44% to Rs 732 cr

Written by Agencies | Mumbai | Updated: Feb 27 2009, 20:51pm hrs
Tata Steel on Friday said its consolidated net profit dipped by 44 per cent to Rs 732.21 crore in the October-December quarter, but held itself from slipping into negative terrain despite a slump in demand.

In the corresponding period of the last fiscal, the company had a net profit of Rs 1,311.76 crore.

The company's total income in the third quarter of the current fiscal increased to Rs 33222.59 crore from Rs 32,074.34 crore, the company said in a filing to the Bombay Stock Exchange.

The shares of the company surged as much as 7 per cent on the BSE after the company came out with its numbers. It was later trading at Rs 172.15, up 5.48 per cent on BSE.