Tata's revenue probably exceeded $50 bn on Corus takeover
Tata Group may have increased annual revenue to more than $50 bn last fiscal year driven by the acquisition of Corus Group Plc. In Pics: World News & Trends
By PTI |
BOAO (CHINA): Tata Group, which controls India's biggest makers of steel, autos and tea, may have increased annual revenue to more than $50 billion last fiscal year driven by the acquisition of Corus Group Plc, an executive said.
That compares with $28.8 billion of revenue in the year ended March 31, 2007, according to Tata's Web site.
Higher revenue was driven by contributions from Corus, the UK's biggest steelmaker, and Tata Consultancy Services Ltd, India's largest software exporter, as well as telecommunications and retail businesses, Alan Rosling, executive director of Tata Sons Ltd, told reporters at a briefing in China's Hainan Island on Friday, citing unaudited figures.
That compares with $28.8 billion of revenue in the year ended March 31, 2007, according to Tata's Web site.
Higher revenue was driven by contributions from Corus, the UK's biggest steelmaker, and Tata Consultancy Services Ltd, India's largest software exporter, as well as telecommunications and retail businesses, Alan Rosling, executive director of Tata Sons Ltd, told reporters at a briefing in China's Hainan Island on Friday, citing unaudited figures.
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He was attending China's Boao Forum For Asia conference.
Tata Steel Ltd bought Corus in January last year in the largest takeover by an Indian company.
Group sales included $650 million in China, more than double the previous year's, Rosling said.
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