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Tata Steel second quarter net up

NEW DELHI: Tata Steel Ltd. reported a rise of 8.11 per cent in net profit at Rs.. 1,190.83 crore for the quarter ended September 30, 2007 against Rs.. 1,101.49 crore in the corresponding quarter last year.

Total income has risen by 11.41 per cent to Rs. 4,879.41 crore for the second quarter from Rs. 4379.51 crore in the year-ago period, a company release said.

For the fiRs.t half of the current fiscal, the company reported a net profit of Rs. 2,412.94 crore against Rs. 2,054.90 crore in the same period in 2006-07. Total income stood at Rs. 9,223.11 crore for the six month period ended September 30 against Rs. 8,356.76 crore in the comparable period last year.

Earnings per share of the company stood at Rs. 19.55 for the quarter ended September 30, 2007 against Rs. 19.15 in the same period last year. The company’s steel production has grown to 12.79 lakh tonnes against 12.57 lakh tonnes in the year-ago period. Besides, steel sales grew to 12.18 lakh tonnes in the reviewed quarter from 11.83 lakh tonnes in the same period last year, it said. Tata Steel also posted an export turnover of Rs.. 597.21 crore in July-September period this year. — PTI

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