Steel has ended the second quarter of 2003-04 with a 101
per cent increase in net profit at Rs 403.10 crore against
Rs 200.66 crore in the year-ago period.
were driven by better margins from increase in volumes,
superior product mix and higher prices, Mr B. Muthuraman,
Managing Director, Tata Steel, said at a press briefing.
quarter net sales/income from operations was Rs 2,612.99
crore (Rs 2,078.82 crore for the period), product mix
and volume contributing 50 per cent while price increase
accounted for the balance.
production was 1030317 tonnes (9,89,333 tonnes) and sales
were 1044658 tonnes (9,41,262 tonnes). The company acquired
a 12,000 tonne-wire drawing unit in Sri Lanka.
Steel, which is in the process of expanding steel capacity
by one million tonnes at a cost of Rs 1,800 crore, is
examining the possibility of a further expansion of two
million tonnes at Jamshedpur.