Corporate
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Performance
Tata Steel arms post 93.67 pc increase in combined PAT
Our Bureau
Mumbai
,
June 22
Tata Steel's subsidiary companies have reported a 93.67 per cent increase in their combined profit after taxes at Rs 232.79 crore for the 2005/2006 fiscal.
The increase in profit is because NatSteel Asia Pte Ltd's accounts were for the full year as compared to 45 days in the earlier year, Tata Steel said in its annual report for 2005/2006.
Combined revenues of the subsidiary companies jumped up by 194.5 per cent for the 2005-2006 fiscal at Rs 5,545.36 crore.
Apart from NatSteel, other contributors to the profits were Tata Refractories Ltd and Indian Steel & Wire Products Ltd.
The topline contributors were Tata Refractories, Tata Pigments, TM International Logistics Ltd, Lanka Special Steels Ltd, Sila Eastern Ltd and Jamshedpur Utilities and Services Company Ltd.
Kalimati Investments reported a dip in its profits as well as revenues.
NatSteel reported a net profit of Rs 128.49 crore against Rs 7.49 crore and revenues of Rs 4,052.08 crore compared to Rs 543.95 crore in the earlier year.
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