MUMBAI: Tata Steel today posted an increase of 3.75 per cent in net profit at Rs 1013.94 crore for the quarter ended June 30 as compared to Rs 977.20 crore for the same quarter last year.

The total income increased 17.79 per cent to Rs 6,241.09 crore for the first quarter ended June 30 from Rs 5,298.37 crore a year ago.

The company plans to raise production and sales by 0.5 million tonnes to 4.8 million tonnes in the financial year to March 2007, managing director M. Muthuraman said. ‘‘We overcame a price drop of about 2,500 rupees per tonne in this quarter because of higher volumes and reduced costs,’’ he said.

Its unconsolidated net profit for the quarter was Rs 953 crore, up from Rs 924 crore a year earlier.

Satyam profit up 75%

MUMBAI: Leading IT services company Satyam Computer Services today posted a 75 percent increase in profit after tax at Rs 360.09 crore for the quarter ended June 30, as compared to Rs 206.05 crore for the corresponding quarter in 2005-06.

Total income rose to Rs 1,461.24 crore for the first quarter in 2006-07, up 38.13 percent from Rs 1,057.82 crore recorded during last quarter. The group reported a consolidated profit of Rs 354.12 crore for the quarter ended June 30.

Shares of the company were up 2.39 percent, trading atRs 705 on the bse today.

L&T net rises 10%

MUMBAI: Larsen & Toubro (L&T) today posted an increase of nearly 10 per cent in net profit after tax (after extraordinary item) at Rs 157.13 crore for the quarter ended June 30, as compared to Rs 142.97 crore for the same quarter in 2005-06.

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