Shares of Tata Steel settled with a nearly 1 per cent gain on Monday after the company's consolidated net profit more than doubled for the quarter ended December 2021.
The stock gained 3.25 per cent to Rs 1,214.45 during the day on BSE. However, it gave up most of the gains and settled at Rs 1,182.90, a jump of 0.57 per cent.
On NSE, it settled at Rs 1,184.95, a gain of 0.74 per cent after jumping 3.25 per cent during the day to Rs 1,214.60.
Steel major Tata Steel on Friday said its consolidated net profit more than doubled to Rs 9,598.16 crore for the quarter ended December 2021, mainly on account of higher income.
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In a regulatory filing, the company said it had clocked a net profit of Rs 4,010.94 crore in the year-ago period.
Total income during the October-December quarter also jumped to Rs 60,842.72 crore, from Rs 42,152.87 crore earlier.
The company's expenses rose to Rs 48,666.02 crore from Rs 36,494.91 crore.
In a separate statement, the company said crude steel production increased to 7.76 million tonnes (MT) during the quarter, from 7.74 MT in the year-ago period.
