Tata Steel posts 5.3 % increase in Q2 net profit

The largest Indian private steel producer Tata steel announced on Monday, October 30, that its second quarter 2006 net profit increased 5.3 percent to Rupees 11 billion ($244 million) against Rupees 10 billion ($222 million) recorded in the second quarter of 2005. The company's net sales registered a 7.5 percent increase to Rupees 47 billion ($1.04 billion) during the same period. The total income (net of excise) rose by 18.33% year on year to Rupees 61.7 billion ($1.4 billion) for the quarter ended September 30, 2006.