Indian steel giant Tata Steel’s Thai subsidiary Tata Steel Thailand has announced its financial results for the first quarter ended June 30 of the financial year 2016-17. In the first quarter, Tata Steel Thailand recorded net sales of THB 4.59 billion ($131.32 million), up four percent compared to the first quarter of the financial year 2015-16, due to upward price trend amid the shortage of inventory in the market and good demand from infrastructure projects as well as continued demand from Laos and Cambodia.
In the first quarter, Tata Steel Thailand achieved a net profit before tax of THB 345 million ($9.85 million) compared to the net profit before tax of THB 30 million in the same period of the previous year, thanks to tight control on working capital, and continued focus on cost and product mix. In the same period, the company’s EBITDA reached THB 509 million ($14.5 million), increasing from the EBITDA of THB 216 million in the first quarter of the previous year.