Tata Steel swings into black; posts Rs 7,162 crore net profit in March quarter

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May 05, 2021 8:17 PM

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.

The consideration received and will be used for reduction of off-shore debt, Tata Steel said.The consideration received and will be used for reduction of off-shore debt, Tata Steel said.

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.

Shares of the company on Wednesday ended at Rs 1,068.95 apiece, up 0.46 per cent on BSE.

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