Tata Steel completed the third quarter of financial year 2006-07 on a buoyant note with Turnover of Rs. 5,038 crores, an increase of 20% y.o.y. and Net profit of Rs. 1,064 crores, an increase of 41% y.o.y, compared to the corresponding period of the previous year. The saleable steel production and steel sales volumes increased by 11% y.o.y. and 11.5% y.o.y. respectively during the third quarter of the financial year 2006-07 as compared to the corresponding period of the previous year. The Company completed in-house upgradation of its Blast Furnace No. “E” on 13th October 2006.

The Company has recorded a turnover of Rs. 14,153 crores, an increase of 13% yoy and Net Profit of Rs. 3,119 crores, an increase of 15% y.o.y during the period April-December 2006, compared to the corresponding period of the previous year. Sales volumes increased by 12% y.o.y at 3.53 million tonnes during the period April-December 2006, as compared to the corresponding period of the previous year. Supplies of cold rolled and galvanised products to auto sector has increased by 21% y.o.y. at 0.35 million tonnes during the period April-December 2006. The total supplies of steel to Auto Sector has increased by 29% at 0.63 million tonnes during the period April-December 2006. The Company has also recorded an increase in sale of branded products by 14% y.o.y. during the period Apr-December 2006. The turnover of all branded products increased by 17% y.o.y. at Rs. 3,262 crores during the period April-December 2006.

The Company has recorded an EBITDA margin of 42% and Net profit margin of 24% during the period April-December 2006.

The Company’s Greenfield projects in Orissa and Chhattisgarh are progressing as per schedule with placement of equipment order for Kalinganagar Project in Orissa and commencement of the land acquisition process. Jharkhand Project is awaiting announcement of R & R policy of the state government, due to be announced by the end of January 2007. The construction work of Ferrochrome Project in South Africa is underway as per schedule. The Company has entered into a definitive agreement to purchase Rawmet, a ferro alloy producer in Orissa.