Tata Steel registered a 130 per cent increase in net
profit at Rs929.59 crore for the second quarter of 2004-05
as against Rs403.10 crore in the corresponding period
a year ago.
richer product mix, along with improved realisations
and strong demand, helped the company.
Sales for the first half stood at Rs4,107.31 crore (Rs2,940.98
to B Muthuraman, managing director, the company''s product
mix has been growing richer quarter after quarter. Cold
rolled coils have increased to 34 per cent from 29 per
cent in the year-ago period.
of branded products also increased to Rs1,499 crore
from Rs1,033 crore previously. Branded products offer
a premium of 10-15 per cent on prices, Muthuraman said.
chrome and minerals'' contribution has also been growing.
In the world market, chrome ore and concentrates account
for 14 per cent of the market share, higher than Tata
Steel''s steel exports, he said.
EBITDA (earnings before interest, tax, depreciation
and amortisation) margin moved up to 44.59 per cent
(30.46 per cent). "Our EBITDA margins are higher
than international players," Muthuraman said.
during the second half would see a dip because of the
company''s plan to shut down its G-Blast furnace for
100 days, starting December 2004. However, other facilities
will increase production to keep pace.
Steel has submitted an expression of interest to set
up a steel plant in Bangladesh.