Tata Steel shares gained more than 3 per cent in a subdued market after the steel major’s profit jumped in the fourth quarter ended March 2021. At 10:45 am, the shares of Tata Steel were trading at Rs 1,103.95, higher by 3.16 per cent, on the BSE.
Tata Steel on Wednesday reported a net profit of Rs 6,593.5 crore for the quarter ended 31 March, 2021. The company had posted a net loss of Rs 436.8 crore in the year-ago period.
The company’s total income jumped to Rs 50,249.59 crore in the March 2021 quarter from Rs 37,322.68 crore a year earlier.
Total sales volumes rose 0.43 per cent quarter-on-quarter to 4.67 million tonnes due to robust marketing network and improved market conditions.
The BSE Sensex was trading at 48,722.40, higher by 38.85 points and the NSE Nifty was at 14,640.75, up 23 points at the time.