Mumbai: Tata Steel, all set to enter the grand auction for London-based Corus Steel said its net profit for the October-December quarter jumped 41.12 per cent to Rs 1,063.75 crore compared to Rs 753.74 crore a year ago.
Total revenues of the company increased to Rs 4,568.72 crore for the third quarter as against Rs 3,739.28 crore for the same period in 2005, the company informed the Bombay Stock Exchange on Tuesday.
The company's Board, which met to consider the results, is believed to have discussed about the strategy to be followed for the open bidding for Corus as it competes with rival conglomerate CSN.
Tata officials remained tight-lipped about the deliberations.
The nine-round auction called by the UK Takeover Panel would commence at 1630 hrs GMT (2200 hrs IST) and would end latest by February 1.
Tata Steel has offered 500 pence a share ($9.2 billion) for Corus, but rival CSN topped it with 515 pence a share bid ($9.6 billion).
With PTI inputs
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