Indian steel giant Tata Steel’s Thai subsidiary Tata Steel Thailand has announced its financial results for the second quarter ended September 30 of the financial year 2017-18.
Accordingly, in the second quarter, Tata Steel Thailand recorded net sales of THB 5.78 billion ($174.42 million), up 25 percent compared to the second quarter of the financial year 2016-17 and 26 percent from the previous quarter, mainly due to the increase in long product prices almost universally, especially in East Asia, and the continued absence of China in the global export market.
In the second quarter, Tata Steel Thailand achieved a net profit before tax of THB 233 million ($7.02 million), increasing by 3.5 percent year on year, primarily due to the increase in market demand as customers expected that prices will move up further.