Leading steel maker, Tata Steel on Tuesday announced a sharp rise of 2.2 times in the consolidated net profit for the quarter ended December 2010. During the quarter, the profit of the company rose to Rs 9.49 billion from Rs 4.32 billion in the same quarter last year.
Total income for the quarter rose 11.02% to Rs 290.89 billion compared with the prior year period. On standalone basis, it reported a increase of 26.99% in the net profit for the quarter ended December 2010. During the quarter, the profit of the company rose to Rs 15.13 billion from Rs 11.92 billion in the same quarter last year.
Total income for the quarter rose 11.64% to Rs 73.36 billion compared with the prior year period.
The stock had outperformed the market over the past one month till Feb. 15, 2011, falling 0.83% compared with the Sensex's 3.11% decline. It outperformed the market in past one quarter, declining 0.10% as against 10.02% fall in the Sensex.
The company has market capitalization of Rs 556.38 billion as on Feb. 15, 2011. Shares of the company gained Rs 18.85, or 3.06%, to trade at Rs 635.40. The total volume of shares traded was 1,908,761 at the BSE.
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