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TATA Steel, India's largest steel maker reported a rise in its quarterly net profits. It's consolidated net profit rose from Rs 1,825.25 crore corresponding quarter previous year to Rs 5,346.55 crore for the quarter ended June 30, 2011. It's profits almost tripled during the quarter, y-o-y basis.
Company's Net sales grew by 21.5% from Rs 27,010.06 crore an year ago to Rs 32,839.90 crore this quarter, as per the filing on Bombay Stock Exchange.
It's total operating income increased from Rs 27,193.68 crore, corresponding quarter previous year to Rs 33,000.17 crore this quarter.
Besides this, the company also made a profit of Rs 511.01 crore by selling its stake in Tata Refractories Ltd to Krosaki Harima Corporation, an associate firm of Nippon Steel of Japan.
The company's cost on raw materials increased by 43.84 per cent at Rs 11,227.73 crore, while its interest payments also went up by 23.43 per cent to Rs 737.66 crore.
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