Tata Steel posts net profit of Rs.123 bn

June 26th, 2008 - 9:34 pm ICT by IANS  

Kolkata, June 26 (IANS) Tata Steel Ltd 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 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 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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