Tata Steel net profit increases 12%

By agencies   |   Thursday, 27 October 2005, 07:00 Hrs
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MUMBAI: IndiaÂ’s largest steel maker by revenues Tata Steel has reported a 12.46 percent increase in net profit to $237.5 million for the second quarter ended September compared to $211 million for the corresponding quarter last year.

Net sales turnover grew by 3.4 percent to $878 million. However, operating margin during the quarter under review dropped to 42.7% from 43.5% last year.

The decline in operating margin was amid increasing raw material costs and dwindling realization per ton.

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