TATA Steel’s Q1 net profit zooms 100 percent

New Delhi, Aug 12 (IANS) TATA Steel Thursday reported a 100 percent increase in its net profit for the first quarter of this fiscal at Rs.1,579.39 crore as compared to Rs.789.83 crore for the like period of 2009-10.

The steel producer’s total income increased 16.56 percent and stood at Rs.6,599.91 crore as against Rs.5,661.89 crore in the same period of the corresponding year.

The companies total expenditure fell 5.11 percent to Rs.3,915.23 crore as against Rs.4,126.50 crore in the first quarter of previous year.

The consolidated results of the global steel producer also saw a net profit of Rs.1,825.26 crore as compared to a net loss of Rs.2,208.68 crore in the like period of 2009-10.

The total income also increased by 16 percent to Rs. 2,7254.27 crore from Rs.2,3496.21 crore in the like period of previous year.

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