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Post-Corus, Tata group revenue crosses $50 bn

Post-Corus, Tata group revenue crosses $50 bn
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First Published: Wed, Jan 09 2008. 12 08 AM IST
Updated: Wed, Jan 09 2008. 12 08 AM IST
The Tata group, one of India’s largest business houses consisting of around 100 firms in seven sectors, crossed the $50 billion (Rs1.97 trillion) revenue mark in 2007, following the acquisition of Corus Group Plc.
Ratan Tata, chairman of holding company Tata Sons Ltd , congratulated employees in an email, noting that overseas operations contributed at least 60% of the revenue.
“The new year promises to be a year of continued growth, but also with considerable challenges,” he wrote. “While several of our businesses will continue to see growth, they will, most likely, be under increased pressure on margins due to rising input costs, higher interest rates and tight money supply. Some of our other businesses may well experience flat demand, or even a decline, arising from global oversupply.”
The group reported $28.8 billion as the revenue for 2006-07. Tata Steel Ltd acquired Europe’s second largest steel producer Corus on 31 January for $13.65 billion. Corus started contributing to the?group’s?revenue from April.
Tata Steel doesn’t break out Corus revenue. It reported consolidated revenues of Rs31,154 crore in quarter ending 30 June, a 442% jump from the previous year. Tata Steel reported Rs4,197 crore as total revenue for the June quarter. It had Rs26,957 crore revenue from its subsidiaries and bulk of that came from Corus. The Tata group’s market capitalization was to the tune of Rs3.08 trillion on Tuesday.
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First Published: Wed, Jan 09 2008. 12 08 AM IST
More Topics: Corus | Tata | Ratan Tata | Tata Steel Ltd. | Revenue |