Date:13/03/2008 URL: http://www.thehindu.com/2008/03/13/stories/2008031356161700.htm

Business

Tata Steel Q3 profit up 34 p.c.

Special Correspondent

MUMBAI: Tata Steel on Wednesday announced its consolidated financial results (including Tata Steel U.K. that includes Corus, Natsteel and Tata Steel Thailand) for the third quarter of 2007-08. The net profit was higher by 34 per cent at Rs. 1,415.54 crore against Rs. 1,054.61 crore in the corresponding period of the previous year.

According to a company statement, the turnover for the period was at Rs. 31,898.54 crore (Rs. 5,970.63 crore). Excluding the turnover of Tata Steel U.K. (Rs. 23,867 crore), the turnover registered an increase of Rs. 2,157 crore.

The increase was mainly due to rise in performance of Tata Steel’s Indian operations (Rs. 472 crore), NatSteel (Rs. 1,135 crore) and Tata Steel Thailand (Rs. 554 crore).