Tata profits soar after Corus deal

Indian steel giant Tata Steel today said that last year’s £6.2bn (€7.8bn) acquisition of Anglo-Dutch company Corus had boosted profits by 60%.

Tata Steel – the world’s sixth biggest steel firm – reported underlying pre-tax profits of 102 billion rupees (€1.5bn) for year to March 31, compared with 64 billion rupees (€965m) the previous year.