The quarterly results of companies are coming, the effect of which is also visible on their shares. Something similar was seen with the shares of Tata Steel Long Products, the company’s stock fell up to 6% in early trade today. The company’s net profit declined 82% to Rs 59.62 crore as of the quarter ended March. Let us tell you, in the previous quarter, the company’s net profit was Rs 339.85 crore.
Also read: Return on FD: Know where senior citizens are getting the highest interest on fixed deposits in SBI, ICICI and HDFC
According to the recently released quarterly results, the company’s sales have increased by 16 percent to Rs 1,799.40 crore. Whereas according to the quarterly results of March 2021, there was a sale of Rs 1546.74 crore. Following these results, the shares saw a decline of up to 6%. The company’s shares were trading at 758.25 at 10.25 am. On Tuesday, the price of one share of the company was Rs 799.45.
TATA Steel holds 75.91% stake in Tata Steel Long Products. The company’s net profit grew by 10 percent in the fiscal year ended. The net profit of the company has gone up to Rs 629.87 crore in the last financial year. The sales of the company have also increased by 43 in the last financial year.