ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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TATA STEEL-The Year That Was

Jolted by Decontrol? Jairaj Kapadia SOME insinuations by market men apart, it is necessary to get down to the bottom of the setback in profits which the Tata Iron and Steel Company has reported for the first six months of the current financial year. Profits declined despite both production and sales recording increases in volume and sales income showing further improvement. The setback followed record profits which were reported by the company for the immediate preceding year (see table). Profits suffered even as steel was fully decontrolled in January this year and from the current financial year the company was totally free from the shackles of steel control. Is it as an irony of steel decontrol that profits went down, instead of going up, during the six months, April to May, this year? Or is the setback due to some other factors, and, if so, will the management of TlSCO be throwing light on them?

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