Tata Steel’s India output grows 3% in Oct-Dec, sales decline 4%


NEW DELHI : Tata Steel on Friday said its total output from India operations rose 3% to 4.60 million tonnes (MT) during the October-December quarter of the current financial year.

The output from company’s operations in India was at 4.47 MT in the year-ago period, Tata Steel said in a statement.

Its sales from India operations during the period under review were at 4.66 MT, down 4% from 4.85 MT in the same quarter of 2019-20 financial year.

Tata Steel Europe’s output also rose 4% to 2.61 MT from 2.51 MT in the year-ago period.

Sales from operations in Europe declined 10% to 2.11 MT during the period under review from 2.35 MT in October-December of 2019-20.

“Automotive and special products’ segment deliveries grew 48% quarter-on-quarter (q-o-q) on the back of improvement in overall demand, increased share of business from existing customers and new product approvals,” the company said in the statement.

Deliveries of branded products and retail segment grew by 5% q-o-q, it said.

“Industrial products and projects’ segment deliveries were marginally lower. However, the company achieved a 47% q-o-q delivery volume growth in high-end segments as we continued to focus on product mix enrichment by catering in sub-segments such as oil and gas, lifting and excavation and pre-engineered buildings,” it added.

Tata Steel is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum.

News Source:- livemint

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