Tata Steel has registered a net profit of Rs 745.49
crore for the first quarter ended June 30, 2004, as against
the previous corresponding Rs 267.07 crore.
sales/income from operations amounted to Rs 3,164.65 crore
(Rs 2,257.10 crore).
outgo dipped to Rs 48.95 crore (Rs 76.46 crore). Depreciation
increased to Rs 157.56 crore (Rs 144.59 crore). Revenue
from its steel business rose to Rs 2,900.38 crore (Rs
2,073.59 crore). According to an official statement, the
company''s steel production stood at 9,93,161 tonnes (9,64,614
tonnes) and its steel sales at 8,82,750 tonnes (8,79,909
tonnes). Subject to shareholders''
consent, Tata Steel''s board has approved August 12, as
record date for the purpose of issuing bonus shares in
the ratio of 1:2, it said.