Post-Corus, Tata Steel's consolidated profits soar

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Kolkata/Mumbai: Tata Steel Ltd, which acquired Anglo-Dutch giant Corus Group Plc. last year, has registered a net consolidated profit of 123.22 billion for the year ended March 31 2008, compared to 41.66 billion the previous fiscal.

The company's total income for the year went up from 179.84 billion to 200.28 billion over this period.

The board of directors of Tata Steel has recommended a dividend of 2 percent on cumulative convertible preference shares payable pro-rata from the date of allotment and a 160 percent on ordinary shares for the financial year 2007-08.

The company said Thursday it had picked up a 50.05 percent equity in Tata Metalliks Ltd in February.
Source: IANS
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