Tata Steel announces first quarter results of 2003/2004
Indian steel producer Tata Iron and Steel Company Ltd. has reported a net profit of Rupees 267 crore (approx. $57 million) for the first quarter of 2003/2004 with a 316% increase when compared with Rupees 64 crore in April-June 2002.
Tata Steel's net sales were Rupees 2'257 crore for the first quarter, up by 28% compared to Rupees 1'765 crore in the first quarter of 2002/2003.
Company also increased its
production to 964'000 tons in the first quarter of 2003/2004 from 874'000 tons reported in April-June 2002 while its sales up to 879'000 tons to 826'000 tons. Furthermore,
Tata Steel's exports turnover reached to Rupees 368 crore in the first quarter against Rupees 209 crore in the previous period. The interest costs decreased to Rupees 76 crore from Rupees 85 crore posted in the first quarter of 2002/2003.