January 22, 2003
Best ever 9 monthly profits
Tata Sponge has staged yet another fine performance at the close of first nine months ending 31st December, 2002 – both operational & financial. A production & despatch of 177,429 MT & 175,826 MT mark the highest figures ever achieved by the company since inception. Buoyed by the good market for sponge iron, the financial figures also touched new heights, with the sales recording Rs.121 crore which was 12% higher compared to the corresponding period in the previous year. The company achieved a Profit Before Tax (PBT) of Rs.16 crore – 95% higher than the previous year and a Profit After Tax (PAT) of over Rs.10 crore which was higher by 82% for the same period in the previous year.