BOMBAY (AFX) - Tata Iron & Steel Co Ltd (TISCO) reported a net profit of 34.74 bln rupees for the year ended March compared with 17.46 bln a year earlier.

Total income increased to 146.46 bln rupees from 108.42 bln in the previous fiscal year, the company announced yesterday.

For the fourth quarter to March, the company posted a net profit of 9.08 bln rupees against 6.28 bln in the corresponding period last year, while total income rose to 38.94 bln from 32.40 bln.

The figures for the quarter ended March are unaudited.

TISCO's board recommended a dividend of 13 rupees per share for the year ended March.

The company also informed the Bombay Stock Exchange that its board has approved a proposal to change the company's name to Tata Steel Ltd.

(1 usd = 43.45 rupees)

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