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  1. Tata Steel sales up marginally to 2.15 MT in April-June

Tata Steel sales up marginally to 2.15 MT in April-June

Tata Steel today reported a marginal growth in its sales at 2.15 million tonnes (MT) for the first quarter ended June 30.

By: | New Delhi | Published: July 26, 2016 10:10 PM
Tata Steel,Tata Steel news, Tata Steel latest, UK Business, UK Business news, UK Business latest The steelmaker’s crude steel production, however, grew by 7 per cent to 2.52 MT during April-June 2016-17 against 2.35 MT during the same quarter in 2015-16. (Reuters)

Tata Steel today reported a marginal growth in its sales at 2.15 million tonnes (MT) for the first quarter ended June 30.

The Mumbai-based firm had clocked sales of 2.14 MT during the same period in 2015-16 fiscal, it said in a regulatory filing.

The steelmaker’s crude steel production, however, grew by 7 per cent to 2.52 MT during April-June 2016-17 against 2.35 MT during the same quarter in 2015-16.

Saleable steel output rose by 5 per cent to 2.34 MT during the quarter under review against 2.23 MT in the same quarter last fiscal.

The firm said its hot metal production was up by 17 per cent to 3.02 MT in the June quarter this fiscal from 2.59 MT during the same period in the last fiscal.

“Commercial production started at the Kalinganagar plant from June 2, 2016,” it added.

In May, while presenting the company’s results Tata Steel India and South East Asia Managing Director T V Narendran had said:

“Tata Steel recorded its highest ever sales at 9.54 MT in 2015-16 and successfully consolidated its market share despite extremely challenging market conditions.”

Sales in Q4 increased by 16 per cent with strong growth in key segments such as Automotive and Branded products, he had said.

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