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Wednesday, August 6, 2008

Tata Steel

Posted by Suman.K, B.Tech, MBA. at 11:05 AM

Tata Steel makes it to Fortune Global 500 list for first time . 6 Aug, 2008.

MUMBAI: Steel major Tata Steel has for the first time made it to the prestigious Fortune Global 500 list of the world's largest corporations, a company statement said on Wednesday.

The company ranks 231 in terms of revenue, the statement said.

Interestingly, Fortune magazine in its July 21, 2008 issue, had for the first time included Tata Steel in its Global 500 list but the company was ranked 315th in terms of revenue.

This ranking was, however, based on the company's total revenues in the first three quarters of the current fiscal and the last quarter of the previous fiscal.

Following the announcement of the company's annual results, Fortune has re-ranked Tata Steel.

In a clarification on its website, Fortune has said: "Tata Steel's revenue for fiscal year end March 31, 2008 -- released by the company after the Global 500 publication deadline -- was $32.8 billion. Had the information been available, the company would have placed 231 on the list. The company ranked 315th in the listing, based on revenue for the four quarters ended Dec. 31, 2007, of $25.7 billion."

 

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