Tisco Q4 net up 34 percent

By SiliconIndia   |   Friday, 21 May 2004, 07:00 Hrs
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MUMBAI: Tata Iron and Steel Company has recorded a 34% increase in net profit to Rs 628.8 crore for the fourth quarter ended March 31, ‘04. Sales rose 17% to Rs 3,490 crore, prompting the company’s board to recommend a dividend of 100% for the year. The board will meet again on June 7 to consider a proposal for bonus share issue.

In Q4, the company has more than doubled its other income to Rs 39.8 crore due to higher treasury incomes. Operating profit increased 48% to Rs 1,183.4 crore. Tisco’s net profit for the full year also increased 72% to Rs 1,746.2 crore, while sales rose 23% to Rs 11,920.9 crore. Total expenditure increased 12% to Rs 7,206.9 crore.

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