Mumbai: Shares of Tata Steel today gained 2.5 per cent to touch 52-week high after the firm reported a consolidated net profit of Rs 1,036 crore for the fourth quarter ended March 31, 2014.
After a positive opening, shares of the steel major further gained 2.55 per cent to Rs 463.70 — its 52-week high on the BSE.
On the NSE, the scrip went up 2.56 per cent to touch its one-year peak of Rs 463.95.
Tata Steel had yesterday reported a consolidated net profit of Rs 1,036 crore for Q4 2013-14 fiscal on the back of higher sales and margin improvement in domestic operations, coupled with an uptick in its European operations.
The company had reported a net loss of Rs 6,529 crore in the same period of the previous fiscal due to impairment charges.
Revenues during the January-March quarter stood at Rs 42,428 crore, up 22.5 per cent over the corresponding period a year ago.
Similarly, the group's operating profit improved to Rs 4,917 crore from Rs 4,368 crore.
For the full financial year 2013-14, the company reported a net profit of Rs 3,595 crore compared with a net loss of Rs 7,058 crore previous fiscal. Net sales rose to Rs 1,47,347 crore from Rs 1,33,538 crore.