Tata Iron & Steel Company (Tisco) has posted a 99% surge in net profit at Rs 3,474.16 crore for the year ended March 31, 2005 as compared to Rs 1,746.22 in FY04. Total income (net of excise) has increased from Rs 10,842.90 crore in the FY-04 to Rs 14,646.98 crore for the year ended March 31, 2005.According to a release issued by Tisco to the BSE, the company has posted a 44% increase in net profit at Rs 908.58 crore for the quarter ended March 2005 as compared to Rs 628.88 crore in the same quarter 2004. Total income (net of excise) has increased from Rs 3240.11 crore in the Q4-04 to Rs 3894.39 crore for the quarter ended March 31, 2005.The company has registered a 101% jump in its consolidated profits after minority interests and share of profits of associates at Rs 3,603.26 crore for the year ended March 31, 2005 as compared to Rs 1,788.78 in FY04. Total income (net of excise) has increased from Rs 11,272.14 crore in the FY-04 to Rs 16,181.05 crore for the year ended March 31, 2005.The Tisco board has recommended a dividend of Rs 13/- per share for the year ended March 31, 2005, subject to the approval of members at AGM, the release said.The board has also, subject to the approval of the Registrar of Companies, Maharashtra, Mumbai and the shareholders of the Company, approved the change in name of the company to "Tata Steel Limited".
