TISCO
Article Abstract:
Tata Iron and Steel Company (Tisco), a steel manufacturing firm, produced 29.71 lakh tonnes of steel in 1997-98 (28.21 lakh tonnes in 1996-97). Its exports increased by 9 percent at 28.21 lakh tonnes. (gs) ------------------------------------------------------------ Financial performance of Tata Iron and Steel Company ------------------------------------------------------------ Particulars Year ended March (Rs in crore) 1998 1997 ------------------------------------------------------------ Sales turnover 6,433.5 6,351.5 ------------------------------------------------------------ Operating profit 995.3 1,164.1 ------------------------------------------------------------ Interest 259.7 274.4 ------------------------------------------------------------ Depreciation 343.2 326.8 ------------------------------------------------------------ Pre-tax profit 363.3 542.2 ------------------------------------------------------------ Tax 41.2 73.0 ------------------------------------------------------------ Net profit 322.1 469.2 ------------------------------------------------------------
Comment:
Posts a decrease in its pre-tax profit to Rs363.3 crore in the year ended 3/98 from Rs542.2 crore in the year ended 3/97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
BEARINGS UNIT A DRAG ON TISCO BOTTOMLINE
Article Abstract:
Tata Iron & Steel Company (Tisco) has posted a decline of 31 percent in its net profit to Rs322.08 crore for 1997-98. The net realisation from steel has dwindled by 20 percent. Its bearings, tubes and ferro alloys units have pulled down the net profit by Rs50 crore to Rs60 crore. Its bearings division at Kharagpur has sold 11 million bearings in 1997-98 against 14 million sold in 1996-97, reducing the profit by Rs10 crore. Its tube making unit at Jamshedpur has recorded a drop in sales by 4 percent to 1.57 lakh tonnes in 1997-98, posting a loss of Rs20 crore. Its ferro alloys sales dropped by 15 percent to 79,000 tonnes in 1997-98, resulting in a loss of Rs20 crore to Rs25 crore. (rk)
Comment:
Posts decline of 31% in net profit to Rs322.08 crore for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
ECONOMIC SLOWDOWN PULLS TISCO NET DOWN TO Rs322 Cr
Article Abstract:
Tata Iron & Steel Co Ltd (TISCO) has posted a lower net profit of Rs322 crore for 1997-98 (Rs469 crore in 1996-97). Sales however were higher at Rs6,433 crore (Rs6,351 crore). The lowered net profit is because a slowdown in the domestic market and poor conditions in the export market. Tisco's domestic sales increased by 9.7 percent to 2.38 million tonnes while exports improved by six percent to 430,000 tonnes worth Rs722 crore operating profits were lower at Rs995 crore due to higher input costs and lower price realisations. Capital expenditure during 1997-98 was Rs1,100 crore. Tisco has announced a lower dividend of 40 percent in 1997-98 (45 percent). (uh)
Comment:
Posts net profit of Rs322 crore for 1997-98 vs Rs469 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: BPCL: LEANING HEAVILY ON MARKETING BPCL: A QUICK GLANCE BHARAT PETROLEUM CORPORATION (BPCL)
- Abstracts: BALRAMPUR CHINI MILLS LIMITED BALRAMPUR CHINI ON ACQUISITION PROWL AGAIN. BALRAM CHINI TO RESTRUCTURE EQUITY CAPITAL
- Abstracts: HC ISSUES NOTICE TO SEBI ON NEW PLANTATION COS SEBI CUTS DAILY PRICE BAND SEBI PANEL MOOTS HYBRID STRUCTURE FOR PLANTATION Cos