Home Business Tata Steel Thai Unit Expects Net Profit

Tata Steel Thai Unit Expects Net Profit

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Bangkok, May 22, 2015: Tata steel thailand PCL is expected to its net profit for the fiscal year ending march 2016, said the thai unit of India`s Tata steel group.

President and Chief Executive Officer Rajiv Manal said that the company which made loss og 609.7 million bhat for the fiscal year ended March 2015, aims for sales growth of 12 % in the current fiscal year lifted by rising steel prices and higher demand.

He added that the domestic demand for the steel is expected to rise 4-5 %, to about 18 million tones this year and said that with countrys GDP with forecast of 3% demand will rise about 4-5 % a year.Further he said demand should accelerate in the second half as the government increases spending on major infrastructure projects.

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