New Delhi, Jan 24 (IANS) India’s leading private steel manufacturer Tata Steel posted a net profit of Rs.54.83 billion ($1.37 billion) in the first half of the current fiscal, showing a 70 percent rise on the previous year, the company said Thursday.
Tata Steel’s total income rose by over 500 percent to Rs. 638 billion, thanks to a hefty contribution of Rs.498 billion from Europe-based Corus, the company’s recent acquisition.
“During April-December 2007, the company’s net profit increased to Rs.54.83 billion from Rs.32.26 billion in the corresponding period past year,” the company said.
“Total income for the six months ending Sep 30, 2007 amounted to Rs.638.72 billion against Rs.120.20 billion in the same period previous year,” it said.
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