Tata Steel today reported a net profit of Rs 1,978.81 crore for the July-September quarter of this fiscal. The steel major had a loss of Rs 2,707.25 crore during the same period last year. The net sales of the global steel major was Rs 28,090.91 crore in the quarter under review,a growth of over 11 per cent compared to Rs 25,276.14 crore it had reported for the quarter ended September 30,2009-10,the company said in a filing to the Bombay Stock Exchange. For the April-September period,the company posted a net profit of Rs 3,804.07 crore. It had a loss of Rs 4,915.93 crore it had reported during the same period of 2009-10. The net sales of the company was at Rs 55,100.97 crore,a growth of 13.69 per cent during the first half of this fiscal as compared to Rs 48,463.82 crore it had reported during the same period of 2009-10. In a separate filing to the stock exchanges,the company said that it plans to raise Rs 7,000 crore through issue of securities,global depository receipts and other related means. It has also decided to increase its authorised capital to Rs 8,350 crore from existing Rs 8,000 crore,the filing added. The scrip of the company closed at Rs 606.30 a piece on the Bombay Stock Exchange,down 3.96 per cent from the previous close.
