The private steel producer Tata Steel has posted 47 per cent decline in net profit at Rs 789.83 crore in the first quarter ended June 30, 2009 as compared to Rs 1,488.40 crore in the corresponding period last year. Total income of the steel giant slipped a meagre 8.73 per cent at Rs 5,615.55 crore from Rs 6,152.92 crore during the period under review.
Steel output of the largest private sector steel producer jumped 30.51 per cent during the quarter under review at 1.54 million tonnes from 1.18 million tonnes in the comparable period last year and sales at 1.42 million tonnes as against 1.16 million tonnes.
Export turnover of the company slipped to Rs 334.95 crore in the Q1, 2009 from Rs 868.13 crore in the same period of the previous fiscal.