Saturday, 16 Jul 2011
TATA Sponge Iron reported a decline of 13.05% in its net profit at INR 22.52 crore for the quarter ended June 30th 2011, mainly due to rising input costs.
As per report the company had reported a net profit of INR 25.90 crore during the same period in 2010-11. Net income of the company also declined marginally by 1.68% to INR 138.09 crore during the quarter as compared to INR 140.46 crore of FY'11.
Tata Sponge Iron in a filing to the Bombay Stock Exchange said that the company's expenditure on raw materials during the April to June quarter increased by 13.15% at INR 100.68 crore vis a vis INR 88.98 crore in Q1 of 2010-11.
(Sourced from ET)
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