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Tata Steel India production falls 4% in Jan-Mar

Press Trust of India  |  New Delhi 

Leading maker today posted 4 per cent fall in production in at 3.07 million tonnes (MT) for the quarter ended on March 31, 2018.

It had produced 3.20 MT in the year-ago quarter, according to a company statement.

Sales in also fell 6.23 per cent to 3.01 MT during the January-March quarter of 2017-18 from 3.21 MT in the same period a year-ago.

However, for the full 2017-18 financial year, the company registered a rise of 6.84 per cent at 12.48 MT as against 11.68 MT during 2016-17. Domestic sales also improved to 12.13 MT in 2017-18 from 10.97 MT in FY 2016-17.

"production improved with better utilisation at works coupled with continued ramp-up at Kalinganagar in FY18. During Q4 FY18, the production and sales were impacted by an unforeseen breakdown of the Blast Furnace at Kalinganagar," the statement said.

In Europe, the company's output was flat at 2.62 MT in the last quarter of 2017-18. Sales during the period fell 14.91 per cent to 2.48 MT from 2.85 MT in the year-ago period.

For the whole of 2017-18, the production in was at 10.68 MT, higher than 10.56 MT in 2016-17. Sales remained flat at 9.93 MT.

"sales volumes were marginally higher on q-o-q (quarter-on-quarter) basis in Q4 FY18, however, production was marginally lower mainly due to unplanned outages," the company said.

In South-also, the company saw its production falling to 0.57 MT from 0.59 MT in the January-March of 2016-17. Sales also fell to 0.62 MT from 0.66 MT.

During 2017-18, the company produced 2.23 MT, lower from 2.28 MT in the preceding fiscal. The sales during the entire fiscal fell to 2.51 MT from 2.61 MT in FY 2016-17.

Group is one of the world's largest companies with a production capacity of approximately 27.5 million tons per annum (MTPA) as on March 31, 2017.

It is a geographically-diversified producer, with operations in 26 countries and a commercial presence in over 50 countries.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 13 2018. 20:10 IST
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