Tata Metaliks’ impressive half-year results
Tata Metaliks has reported an impressive half-yearly PAT of Rs. 28.21 Crores for the half-year ended September 2007, as compared to Rs.15.24 Crores during the first half of F.Y. 06-07 (85% increase). The turnover for the same period has clocked Rs.449.73 Crores, a significant 38.46% increase over the corresponding half-year in the last year (Rs.324.82 Crores). The Company, with its 5 operational MBFs, 2 at Kharagpur and 3 at Redi, produced 253,329 tonnes of Pig Iron.
The despatch during the reporting period was 246,418 tonnes of prime Pig, as compared to 208,690 tonnes of the preceding year.
The financial results for the first half of the 07-08 fiscal were approved by the Board on October 12, 2007, after which the Chairman reiterated that the Company is progressing steadily towards its goals of reinforcing its position as the leading foundry grade pig iron manufacturer in the world.
Meanwhile, the progress on the joint venture endeavour of the Company along with M/s Kubota Corporation of Japan has also been satisfactory and the JV Company is all set to be incorporated by October 2007. The first Board Meeting of the new Company is scheduled to be held on 17th October, 2007. |
