Tata Iron & Steel Company Ltd has posted a 72.97 per cent rise in net profit at Rs 1,782.80 crore (Rs 17.83 billion) for the year FY04 as against Rs 1,030.65 crore (Rs 10.31 billion) in 2002-03.
The board has recommended a dividend of Rs 10 per share for the year ended March 31, 2004, the company said in a statement on Thursday.
The board would consider a proposal for issuance of bonus shares at its meeting scheduled on June 7.
The consolidated profit of Rs 1,782.80 crore is a profit after minority interest and share of profits of associates, it said.
The consolidated net sales for 2003-04 rose to Rs 11,101.52 crore (Rs 111.01 billion) from Rs 9,136.82 crore (Rs 91.37 billion) in FY03.
On the stand-alone basis, the net profit and sales for the year ended March 2004 stood at Rs 1,746.2 crore (Rs 17.46 billion) and Rs 10,702.39 crore (Rs 107.02 billion).