Tata Steel Q2 provisional sales grow 17%

By: | Published: October 6, 2017 5:20 AM

Tata Steel's sales volume increased 17% on a year-on-year basis to 6.4 million tonne for the three months ended September 30, 2017, according to the provisional production and sales performance figures released by the company on Wednesday.

tata steel, tata steel sales growth, tata steel second quarter performanceThe growth was 12% on a quarter-on-quarter basis, while for the April-September period, sales volume were up 12% y-o-y to 12.15 MT. Hi-end product sales for the automotive segment witnessed a growth of around 20% on a y-o-y basis in July-September 2017. (Reuters)

Tata Steel’s sales volume increased 17% on a year-on-year basis to 6.4 million tonne for the three months ended September 30, 2017, according to the provisional production and sales performance figures released by the company on Wednesday.

The growth was 12% on a quarter-on-quarter basis, while for the April-September period, sales volume were up 12% y-o-y to 12.15 MT. Hi-end product sales for the automotive segment witnessed a growth of around 20% on a y-o-y basis in July-September 2017.

During Q2FY18, production volumes increased 5% y-o-y to 5.94 MT, while the half-yearly production volumes were up 9% y-o-y to 12.47 MT.

Blast furnaces at the Jamshedpur plant achieved the best-ever second quarter production of 2.8 MT. The previous best of 2.66 MT had been reported in Q2FY16. Sinter plants achieved best-ever Q2 production of 2.09 MT, with the previous best of 1.97 MT having been achieved in Q2FY16, a company statement said.

Also, blast furnaces achieved the lowest best-ever Q2 coke rate of 350 kg/thm and the highest best-ever Q2 coal rate of 188 kg/thm. Tata Steel’s cold rolling mill achieved the best-ever Q2 production of 0.51 MT at Jamshedpur and the best-ever Q2 production of 0.161 MT at Bara. Merchant mill achieved best-ever Q2 production of 0.118 million tonne.

At the Kalinganagar plant, the company commissioned a metal recovery unit.

Meanwhile, Tata Steel Europe deliveries were higher, reflecting stable market conditions and improved finishing processes. While the production volumes for Q2FY18 were slightly lower on a y-o-y basis at 2.60 MT, sales volume surged to 2.60MT from 2.26 MT in July-September 2016.

At Tata Steel South-East Asia operations, production volumes increased to 0.60 MT, while sales volume stood at 0.67 MT, an increase over the three months ended September 2016. Tata Steel had posted a strong performance in the previous quarter as it posted a consolidated net profit of Rs 921 crore against a net loss of Rs 3,183 crore in Q1FY17. Revenues grew 19.26% y-o-y to Rs 30,973 crore, with the company’s domestic deliveries rising 28% y-o-y during the quarter.

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