Tata Steel FY08 consol net $2.9 bn

Tata Steel, the world's sixth-largest steelmaker reported a tripling in consolidated net profit for the 2007/08 financial year. Its Anglo Dutch unit Corus boosted the net profit. Tata Steel completed a 13 billion dollar deal to buy Corus in April 2007, which was the India's biggest foreign takeover. Tata Steel gave the credit for the company's performance to the continuous improvement and firm steel prices.