Post-Corus, Tata Steel’s consolidated profits soar (Lead)

June 26th, 2008 - 10:29 pm ICT by IANS  

Kolkata/Mumbai, June 26 (IANS) Tata Steel Ltd, which acquired Anglo-Dutch giant Corus Group Plc. last year, has registered a net consolidated profit of Rs.123.22 billion for the year ended March 31 2008, compared to Rs.41.66 billion the previous fiscal. The company’s total income for the year went up from Rs.179.84 billion to Rs.200.28 billion over this period.

The board of directors of Tata Steel has recommended a dividend of 2 percent on cumulative convertible preference shares payable pro-rata from the date of allotment and a 160 percent on ordinary shares for the financial year 2007-08.

The company said Thursday it had picked up a 50.05 percent equity in Tata Metalliks Ltd in February.

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