Tata Steel on May 3 reported a consolidated net profit of Rs 9,835.12 crore, a 37.3 percent growth over a year ago.

Tata Steel share price rose in early trade on May 4 a day after the company came out with its March quarter earnings.

The company had reported a profit of Rs 6,644.15 crore in the same quarter last year.

The  steelmaker has reported a net profit of Rs 9,572.67 crore with an  income from operations at Rs 60,783.11 crore in December 2021 quarter.

The company board recommended a dividend of Rs 51 per share.

The company has also announced a proportionate dividend of Rs 12.75 per equity share.

Apart  from this, the company board has also approved sub-division of equity  shares of the company having face value of Rs 10 each into 10 equity  shares of Re 1 each.