Shares of Tata Steel fell by nearly 2 per cent today despite the company posting a net profit of Rs 14,688 crore in the March 2018 quarter as against Rs 1,168 crore net loss in the year-ago period.
The stock opened on a positive note today but soon reversed the trend and fell by 3.15 per cent to Rs 602.40 apiece in intra-day trade on the BSE. Later, it closed at Rs 610.05, a loss of 1.93 per cent.
On the NSE, shares of the company slipped 1.76 per cent to end at Rs 610.30 a unit.
In terms of volume, 14 lakh shares of the company were traded on the BSE and over 1 crore shares changed hands on the NSE during the day.
Tata Steel yesterday reported a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March 2018.
It had a net loss of Rs 1,168.02 crore in the same quarter last year.
Total income of the company increased to Rs 36,407.19 crore in the quarter, against Rs 35,457.06 crore in the year-ago period.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)