The company where the career of the country’s greatest industrialist, Ratan Tata, began. The same company suffered huge losses in the March quarter. Yes, this company is none other than Tata Steel. It released its quarterly results on Wednesday. In the quarterly results, the company’s net profit fell by 64 percent. While revenue also declined 7 per cent, Tata Steel shares closed flat at Rs 174.20 per share on Wednesday. We also tell you what the quarterly results of this company close to Ratan Tata’s heart were like.
64 percent profit loss
Tata Steel released its quarterly results on Wednesday. According to statistics, Tata Steel has suffered a 64 per cent loss in its net profit. Tata Steel’s net profit has declined to Rs 611 crore in the March quarter, down from Rs 1,705 crore in the same quarter last year. However, Tata Steel’s profits on Dalal Street were estimated at Rs 991 crore. The company has also not included this in the quarterly results. If we talk about the company’s revenue, there has been a drop of 7 percent. This has been Rs 58,687 crore.
The company will give this amount of dividend.
While Tata Steel’s quarterly results may not have been as per market expectations, the company has also announced a dividend. The company’s board of directors has announced a dividend of Rs 3.6 per share. The record date to determine shareholder eligibility was set as June 21. If the dividend is approved by shareholders at the Annual General Meeting, it will be paid from July 19. Last year also the company had distributed a dividend of Rs 3.6 per share to investors. While in the year 2022, the company had distributed a dividend of Rs 12.75 to the investors. In the year 2021 it was 6.25 rupees.
company shares a flat
However, Tata Steel shares closed flat on Wednesday. According to data received from BSE, shares of Tata Steel closed at Rs 174.20. While the company's shares opened at Rs 174.85. During the trading session, the company's stock touched the day's high of Rs 176. In the current year, Tata Steel has given investors a return of 24.42 percent. The company's shares have seen an increase of 62.54 percent in one year. The company's shares have given a return of 36 percent in the last 6 months.
