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Tata Steel posts lower sales, production in Q4 due to Kalinganagar incident

It's production also increased to 12.48 mt in FY18, against 11.68 mt in the previous year

Press Trust of India  |  Mumbai 

Tata Steel, Bhushan Steel

Leading steel producer on Friday reported a 6.23 per cent decline in domestic sales at 3.01 million tonnes (mt) and a 4.06 per cent drop in at 3.07 mt in the March quarter (Q4FY18).

It had sold 3.21 mt in the domestic market in the same period last year, while the stood at 3.20 mt.

The company cited breakdown in the blast furnace at plant as the main reason for lower and sales, according to a statement released on Friday.

sales volumes were also lower at 2.48 mt in Q4FY18, compared with 2.85 mt in Q4FY17, while the remained flat at 2.62 mt mainly due to unplanned outages, it said.

However, the and sales volumes of the company in were stable on a quarter-on-quarter basis, according to the release.

The company had earlier this month reported a 11 per cent rise in domestic sales at 12.13 mt in financial year 2017-18, compared with 10.97 mt in FY17.

It's also increased to 12.48 mt in FY18, against 11.68 mt in the previous year.

said its domestic improved with better utilisation at Jamshedpur works coupled with continued ramp-up at in FY18.

First Published: Fri, April 13 2018. 18:08 IST