Tata Steel Q4 PAT swings 41 per cent

New Delhi, May 17: Tata Steel, which bought Anglo-Dutch firm Corus Group for 12.9 billion dollars earlier this year, today clocked 40.8 per cent increase in its net profit at Rs 1,103 crore for the fourth quarter ended March 31, 2007 as against Rs 783.11 crore during the same period last year on account of higher steel prices.

Its total income also rose 21.49 per cent to Rs 5,060.21 crore from Rs 4,164.89 crore during the said period.

The company said its expenditure for the quarter grew to Rs 3,077 crore over Rs 2,797 crore a year ago.

Net sales for the quarter rose 21.5 per cent to Rs 4,980 crore from Rs 4,100 crore a year earlier, the company said in a statement.

Its steel production in the quarter marginally rose to 1.27 million tonnes from 1.23 million a year ago.

The company's Board recommended a dividend of 130 per cent for the financial year 2006-07 and a special dividend of 25 per cent on the occasion of the centenary year of the company.

For the year ended March 31, 2007, the company's net profit stood at Rs 4,222.15 crore in comparison to Rs 3,506.38 crore for the year ended March 31, 2006.

UNI