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Tata Steel Q2 output up 18% to 2.2 MT

Oct 09 2013, 21:31 IST
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Tata Steel Group is among the top ten global steel companies with an annual crude steel capacity of over 29 MT. (Reuters) Tata Steel Group is among the top ten global steel companies with an annual crude steel capacity of over 29 MT. (Reuters)
SummaryIts crude steel production was recorded at 2.29 MT in Q2, up 19 per cent y-o-y.

Tata Steel on Wednesday said production of the saleable metal recorded a jump of 18 per cent in July-September quarter of the current fiscal at 2.2 million tonne.

Saleable steel production was up from 1.86 MT logged in the second quarter of 2012-13 fiscal.

"Saleable Steel production increased by 18 per cent y-o-y in Q2 (to 2.2 MT) and by 21 per cent y-o-y in H1 (to 4.35 MT), Tata Steel said in a statement.

The hot metal production during the quarter was up 19 per cent at 2.46 MT over Q2 of previous fiscal. For first half of the 2013-14 it was up by 20 per cent at 4.93 MT.

Its crude steel production was recorded at 2.29 MT in Q2, up 19 per cent y-o-y and 4.51 MT in H1, up 21 per cent y-o-y.

The company's sales in the second quarter stood at 2 MT against 1.7 MT during the same period of last fiscal.

"Deliveries were 2.03 MT in Q2 (up by 18 per cent y-o-y) and 4.04 MT in H1 (up by 22 per cent y-o-y)," it said.

The company said merchant mill achieved its best half yearly production at 0.19 MT against previous best output of 0.19 MT in first half of FY'13.

Also, its new bar mill achieved its best ever quarterly production of 0.22 MT (previous best was 0.22 MT in first quarter of FY'14), and best half yearly production at 0.44 MT (previous best was 0.41 MT in second half of FY'13).

The company also recorded best half yearly production of saleable steel in flat products at 2.81 MT in H1 (previous best was 2.72 MT in H2 of FY'13), it said.

On the performance of the recently commissioned units under its 3 MTPA expansion, it said the pellet plant produced more than 2 MT of pellet in H1 while the blast furnace surpassed the H1 target by producing 1.55 MT of the hot metal.

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top ten global steel companies with an annual crude steel capacity of over 29 MT.

It is now the world's second-most geographically diversified steel producer, with operations in 26 countries.

The shares of the company were trading at Rs 302.50 apiece, up 1.95 per cent from the previous close during afternoon trade at BSE.

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