Tata Steel Q4 net down 13.8 pc, dividend at 130 pc

Mumbai, May 18: Tata Steel has posted a net profit of Rs 783.11 crore for the quarter ended March 31, 2006 as compared to Rs 908.58 crore for the corresponding quarter in the previous year, a decline of 13.80 per cent.

Announcing the results, the company's Managing Director B Muthuraman said its total income has increased from Rs 3894.39 crore in Q4 FY 04-05 to Rs 4193.33 crore for Q4 FY 05-06.

It has posted a net profit of Rs 3506.38 crore for the year ended March 31 (FY 05-06) as compared to Rs 3474.16 crore for the corresponding period previous year (FY 04-05).

Total income has increased from Rs 14646.98 crore in FY 04-05 to Rs 15394.15 crore for FY 05-06.

The Board of Directors has recommended a dividend of 130 per cent for the financial year 2005-06.

Meanwhile, Tata Steel said it plans to raise up to dollar one billion from overseas markets to fund its growth plans.

UNI