Output increased 2% to 7.68 million tons in the December quarter; Sales fell 3% to 6.88 tons

Tata Steel’s Consolidated Revenue for October-December 2021 Drops About 3%

The country’s top steel producer Tata Steel on Friday reported consolidated steel output up more than 2% to 7.68 million tonnes (MT) in the October-December quarter of the current fiscal. The company’s consolidated steel production stood at 7.51 tonnes during the corresponding period of the previous fiscal year 2020-21, the steel specialist said in a regulatory filing filed with the stock exchange on Monday. today.

However, Tata Steel’s consolidated revenue for the October-December 2021 period fell about 3% to 6.88 mt, compared with 7.09 mt in the same period last year.

In India, Tata Steel produced 4.80 tonnes of steel in the third quarter of the current financial year, compared with 4.60 tonnes in the same period last year. Sales in India stood at 4.41 tonnes, compared with 4.65 tonnes a year ago.

Tata Steel India crude steel production increased 16% year-on-year and total deliveries increased 4% year-on-year as the economy continued to recover in the current fiscal.

Domestic delivery rates were 19% higher even when exports adjusted down to around 14% of total deliveries. In the third quarter, crude steel production increased 1.5% qoq, total deliveries were 4% qoq lower, as increased domestic deliveries were offset by lower exports.

Tata Steel Europe produced 2.56 tonnes of steel from 2.59 tonnes a year ago, while sales in Europe increased to 2.15 tonnes from 2.11 tonnes previously.

Tata Steel Southeast Asia’s output for the same period remained flat at 0.32 tonnes, compared with 0.32 tonnes a year ago. Its sales stood at 0.32 tons, compared with 0.33 tons in the same period last year.

Tata Steel Group is one of the world’s leading steel companies with an annual capacity of 34 tons. On Friday, December 7, shares of Tata Steel fell 0.28% to Rs 1,160.20/piece on BSE.