After posting record profits in the second quarter, Tata Steel has posted a 711 per cent jump in profits of Rs 280.23 crore for the third quarter over those in the same period last year on the back of improved prices and higher exports.
As a result, total profits for the nine months of the year at Rs 549 crore almost equal the all-time record profits of Rs 553 crore in 2000-2001.
The steep bottom line increase is on a sales rise of 3.7 per cent in volume terms. Net sales for the quarter rose 26 per cent to Rs 2,398 crore.
Tata Steel managing director B Muthuraman told newspersons here on Thursday,
