By Debarati Roy
Tata Steel Ltd., the world’s sixth- biggest steelmaker, reported fourth-quarter profit rose to a record on higher sales and prices.
Net income rose to Rs1103 crore ($270 million) in the quarter ended March 31, from Rs 783 crore a year ago, the Mumbai-based company said today. Sales rose 22% to Rs 56 billion.
The profit compare with the 11.95 billion-rupee median estimate of five analysts surveyed by Bloomberg News.
The company said it will pay a dividend of Rs 15.5 a share, which includes a special payout of Rs 2.5.