Tata Steel reported a 44.47 per cent rise in net profit
for the quarter ended March 2005. The net profit rose
to Rs908.58 crore from Rs628.88 crore in the corresponding
previous period. Net sales / income from operations was
up 20.76 per cent at Rs3,864.65 crore (Rs3,200.27 crore).
2004-2005, the company''s net profit soared by 98.95 per
cent to Rs3,474.16 crore (Rs1,746.22 crore) on a 35.47
per cent gain in net sales / income from operations to
Rs14,498.95 crore (Rs10,702.39 crore).
company''s board has recommended a dividend of 130 per
Muthuraman, managing director, told press persons that
he expected HR prices to average $600 a tonne for the
next 18 months, given the time needed for raw material
supply corrections and the likely longer time needed for
scrap steel supply to normalise.
global steel industry is operating at 95 per cent capacity
utilisation and China would drive steel consumption for
some time with India also waiting to kick in. On World
Steel Dynamics'' opinion that prices may soften, he said:
"Spot prices could, but their report also says prices
may later strengthen."
said that the company''s results were good despite that
price cut, the 110-day shutdown of the ''G'' blast furnace
and high raw material prices.
metal production stood at 4.35 million tonnes (4.47 metric
tonne); crude steel 4.10 mt (4.22 metric tonne), and saleable
steel 4.11 metric tonne (4.09 metric tonne). Branded steel
at Rs3,362 crore (Rs2,363 crore) accounted for 29 per
cent (25 per cent) of domestic sales.
2005-2006, it plans to produce 5.2 metric tonne of hot
metal and 5 metric tonne of crude steel, with saleable
steel at 4.85 metric tonne.