Tata Sponge Iron Q4 net profit up 28.42% at Rs 42 cr

Tata Sponge Iron Q4 net profit up 28.42% at Rs 42 cr
A net profit of Rs. 42.83 crore for the fourth quarter ended March 31, 2011, has been reported by a Tata Group company, Tata Sponge Iron.

The company posted a growth of 28.42% in its net profit when compared with its net profit during the previous fiscal year, which stood at Rs 33.35 crore.

However, the net sales seen by the company during the fourth quarter of FY11 is Rs. 191.64 crore that is a jump by almost 14.56% when put against Rs. 162.79 crore, the figure prevailing during FY10. The dividend which has been recommended by the Bombay Exchange filing is of Rs. 8 per share for the year 2010-11.

This dividend will further result in the outflow of cash worth Rs. 12.32 crore. Tata Group is an Indian multinational conglomerate company headquartered in the Bombay House in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest private corporate group in India. It has interests in communications and information technology, engineering, materials, services, energy, consumer products and chemicals.

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