India's No 2 steel maker, Tata Iron and Steel Co. (Tisco) expects to post improved results in the third and fourth quarters of the current year to March 2003, partly due to higher-than-expected output, the company managing director B Muthuraman said on Tuesday.
He said the company will exceed this year's output target of 3.8 million tonnes, announced in June. It produced 3.59 million tonnes of steel in the past year.
"The outlook for this year's Q3 and Q4 is very good as volumes are better and so is the product mix," Muthuraman said on the sidelines of a business conference, but did not give any details.
"We are going to exceed 3.8 million tonnes for the year on the basis of higher exports, better volumes and a better product mix."
Muthuraman said the company's exports in the year so far had doubled compared with that during the same period last year.
The private-sector company, which produces a fifth of the steel made in India, exported Rs 5.81 billion ($120.7 million) worth of steel products in the past year.
Its second-quarter profit jumped sixfold from a year earlier to Rs 2.03 billion ($42.17 million) due to higher prices and a better product mix.
International steel prices have risen in recent months, helped by rising demand from China's robust economy.
Tisco shares were down 1.08 per cent at Rs 137 on the benchmark Bombay Stock Exchange, whose index was down 0.48 per cent.
© 2025