Automobile News

Tata Sponge Q3 consolidated profit up 3-fold at Rs 36 cr

Tata Sponge Q3 consolidated profit up 3-fold at Rs 36 cr

New Delhi: Tata Sponge Iron Ltd today reported an over three-fold jump in its consolidated net profit at Rs 36 crore for the December 2017 quarter.

The company had posted a consolidated net profit of Rs 10.97 crore in the corresponding quarter of the previous fiscal, the company said in a filing to the BSE.

The firm’s total income also rose to Rs 226.12 crore in October-December quarter from Rs 166.17 crore in the year-ago period.

Total expenses of the company were at Rs 171.78 crore during the quarter under review, as against Rs 150.91 crore in the same period last fiscal.

Its revenue from sponge iron segment rose to Rs 199.30 crore from Rs 145.56 crore.

Shares of the company ended at Rs 1,184 apiece on the BSE today, up 0.71 per cent from the previous close.

PTI