The purchase of Corus assisted the world’s sixth biggest steel maker, Tata Steel, to record a six-fold jump in its consolidated profit after tax (PAT) at Rs 6,388 crore for its first quarter.

Tata Steel registered a consolidated profit after tax (PAT) of Rs 1,014 crore in the corresponding period of the last year (2006). The current figures showed a growth of 6.30 times, following the acquirement of Corus.

Tata adopted Corus for $12.1 billion in early 2007, and the deal catapulted the steel manufacturer to the sixth place amongst the world’s top steel actors with overall production capability of more than 23 million tons annually.

On a consolidated basis, turnover recorded five-fold increase to Rs 31,155 crore in the period as compared to Rs 5,748 crore during the same corresponding period of the last year.

Consolidated operating profit boosted to Rs 4,904 crore during te period under review as against Rs 1,712 crore in the same period of last year.

The results also comprise extraordinary item of Rs 4,121 crore primarily symbolizing actuarial gains because of increase in the yield rates on Bonds held by several Corus pension funds.

The stock markets took note of the overall growth and the stock at Rs 644 levels firmed up 6.4 per cent or Rs 38 in afternoon trading on yesterday.