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 Resolution Professional has filed the Resolution Plan (as approved by the CoC on June 5), with the National Company Law Tribunal, Kolkata Bench on June 7, 2021 for its subsequent approval thereupon,” a stock exchange filing said.“… the Resolution Professional has filed the Resolution Plan (as approved by the CoC on June 5), with the National Company Law Tribunal, Kolkata Bench on June 7, 2021 for its subsequent approval thereupon,” a stock exchange filing 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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