On June 25, Indian steelmaker Tata Steel Limited, one of the top ten global steel producers, announced the audited consolidated group financial results for the fiscal year (FY) 2008-09, ended March 31, 2009.
In its statement, the steel giant said that its Indian operations increased its deliveries by nine percent to 5.23 million mt in FY 2008-09, compared to 4.78 million mt in FY 2007-08. In FY 2008-09, the steel deliveries of the group were 28.54 million mt, down by 10 percent compared to 31.68 million mt in FY 2007-08.
Meanwhile, Tata Steel Group recorded a turnover of Rupees 1.47 billion (US$29 million) in FY 2008-09, 12 percent higher than the turnover of Rupees 1.315 billion (US$26 million) in FY 2007-08.
In the fiscal year 2008-09, the group's EBITDA was Rupees 185 million (US$3.6 million), just one percent higher than the EBITDA of Rupees 183 million (US$ 3.59 million) recorded during the previous fiscal year. Tata Steel Group's profit before taxes and exceptional items was Rupees 108 million (US$2.13 million) during the fiscal year in question against Rupees 100 million (US$1.97 million) for FY 2007-08.