Tata Sponge Q4 up two-folds to Rs 47 cr

Tata Sponge Iron today reported over two-fold jump in standalone net profit to Rs 46.70 crore for the fourth quarter ended March 31, 2018.

The company had posted a profit of Rs 21.20 crore in the corresponding quarter of previous fiscal, Tata Sponge Iron Ltd said in a BSE filing.

Its total income was up 31.59 per cent to Rs 243.50 crore during the quarter under review as against Rs 185.04 crore in the year-ago period.

Meanwhile, in a separate filing, Tata Sponge said that its board in a meeting held today recommended a dividend of Rs 20 per equity share of Rs 10 each to the shareholders for the financial year 2017-18.