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Tata Sponge Iron Jul-Sep net profit flat at Rs 27.63 crore


New Delhi, Oct 12 -Tata Sponge Iron, an associate firm of Tata Steel, said Friday its consolidated net profit remained flat at Rs 27.63 crore during the quarter ended on September 30, 2018. The net profit during the year-ago quarter stood at Rs 27.62 crore, Tata Sponge Iron Ltd said in a filing to BSE.

During the July-September 2018, the company said its total income rose to Rs 231.09 crore from Rs 176.66 crore in the corresponding three-month period of 2017.

The company is engaged in the production of sponge iron by direct reduction method of iron ore and power generation from waste heat.

Shares of the company today ended 3.54 per cent up at Rs 837.45 apiece on BSE.

Source: Economic Times