TISCO reports 99% increase in its profit
Indian steel producer Tata Iron and Steel Corp (TISCO) has reported 99% increase in its profit in the third quarter ended on December 31, 2004. Profit in the subject quarter has been reported as Rupees 8.9 billion ($203 million). Net sales of the company has increased from Rupees 26.3 billion recorded in the third quarter of previous year to Rupees 37.3 billion ($854 million) in the third quarter of current fiscal year. Exports increased to Rupees 5 billion from Rupees 3.6 billion recorded in October-December 2003. Sales and production increased to 997'000 tons and 1.03 million tons, respectively.