Steel major Tata Steel Wednesday reported an increase of 67.24 percent in its stand alone net profit for the first quarter of the current fiscal.
The company posted a net profit of Rs.2,267.98 crore for the quarter ended June 30, 2014 from Rs.1,356.11 crore for the quarter ended June 30, 2013.
According to the company, its total income increased 73.33 percent at Rs.10,611.76 crore from Rs.9,599.60 crore for the quarter ended June 30, 2013.
“The economic sentiment has improved in India after the general elections and the new government has been clearly communicating its intentions to bring the economy back to growth path,” T.V. Narendran, managing director, Tata Steel India and South East Asia said.