Saturday, February 9, 2019

Tata Steel makes strong come back

Image result for tata steel logo

Contrary to what Tata Motors reported, Tata Steel's quarterly profit rose by net profit rose 76.5 percent over last year to Rs 2,284 crore in the December quarter. 

The company had reported a revenue of Rs 15778 Cr and net of Rs 1338 in the same quarter last fiscal.

 Revenue rose by 23 percent to Rs 41,220 crore. Operating profit increased 18 percent to Rs 6,723 crore.

The increased revenue and profit due to increased capacity from domestic acquisitions.

The shares of Tata Steel closed at Rs 469, down 4 odd percent in yesterday's trading.

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