The world's sixth-largest steelmaker, Tata Steel, announced on June 26 it had almost tripled its consolidated full year net profit to $2.9 billion, boosted by last year's acquisition of Corus.
Consolidated net profit for the year ending March 2008 rose to 123.49 billion rupees from 41.77 billion rupees a year earlier.
The company said standalone net profit for the quarter ending March 2008 rose 11% to 46.87 billion rupees (US$1.1 billion) from 42.22 billion rupees a year ago.
Sales for the fourth quarter rose 11.4% to 200.28 billion rupees.
In 2007 the firm bought Anglo-Dutch steel group Corus in a $13.7 billion deal, catapulting it to sixth-largest global steelmaker from 56th.
Copyright Agence France-Presse, 2008
