Tata Steel Long Products Q4 results: Reports net profit of Rs 339 crore

Mumbai: Ltd has reported a consolidated net profit of Rs 339.86 crore during the fourth quarter of FY21 as against a loss of Rs 133 crore during the same period last year.

The company’s total revenue from operations was recorded at Rs 1,546 crore a jump of 53% during the quarter under review. The company’s total expenditure amounted to Rs 1,179 crore during Q4 as against Rs 1,026 crore last year.

The company said that the Board of Directors of Tata Steel Long Products has approved the schemes for amalgamation of

Limited and The Indian Steel and Wire Products Limited into the Holding Company at its meeting held on November 13, 2020.

The company has recommended a dividend of Rs. 5.00/- per Equity Share of Rs. 10.00/- each (50%) to the shareholders of the Company for the Financial Year ended March 31, 2021.

“The dividend recommended by the Board of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company and will be paid as per applicable guidelines,” the company said.