Higher prices push Tata Steel Q4 profit to record high

Higher prices push Tata Steel Q4 profit to record high
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First Published: Thu, May 17 2007. 03 14 PM IST
Updated: Thu, May 17 2007. 03 14 PM IST
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.
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First Published: Thu, May 17 2007. 03 14 PM IST