The saving and investment rates in the country are experiencing a faster rate of growth recently. Policy measures undertaken in India recently have helped a lot in the economic progress. Government is taking strict measures in attending to some of the challenges being faced by the economy, such as infrastructure related problems through public, private and foreign investments.
Given our strong operating profits and unique business model, and aided by a positive momentum in the TMT business, we have delivered another robust performance this year. Revenues from the TMT segment increased as we witnessed better realization and improved volume contribution from our stabilized capacities. The performance of the Induction furnace segment was in line with our overall operations and continued to support growth of the TMT operations.
Within the increasing demand of infrastructure, the demand for TMT Bars has continued to grow positively. TMT prices have witnessed an increasing and decreasing trend recently owing to sustained demand from the user industry and raw material prices. The recent expansion initiative will give us significant economies of scale; and we expect better productivity results going forward.
In this current year, we expect to realize additional benefits from stabilized TMT capacities. Given the expanded capacity, high quality standards and a conductive demand and pricing scenario, the outlook for Buland group remains extremely bright.
Before I conclude, let me thank all our customers who have reposed confidence in us. I take this opportunity to assure you of our dedicated support and commitment at all times.