Tata Steel sales up 21% in H1

Tata Steel has registered a 21 per cent rise in its sales at 28.75 lakh tonnes in the first half of the current fiscal on the back of robust demand from the construction sector.

In the corresponding period last year, the steel major's sales stood at 23.80 lakh tonnes.

Its sales rose by 19 per cent to 14.56 lakh tonnes in the second quarter this fiscal, compared to 12.20 lakh tonnes in the corresponding period last fiscal.

"Tata Steel completed the second quarter and first half of FY'10 on a buoyant note with a considerable increase in its production and sales volume as compared to the corresponding period last year," the company said in a statement here today.

Its production of long-rolled steel products, primarily used by the construction sector, surged by 49 per in the first half of the fiscal compared to the same period last fiscal.

During the second quarter of the fiscal, the company saw its crude steel output rising by 21 per cent to 16.40 lakh tonnes as compared to the 13.56 lakh tonnes in the same period last fiscal.

In the first half of the fiscal, the company reported 21 per cent increase in crude steel production to 31.43 lakh tonnes compared to 26.08 lakh tonnes in the same period in the previous fiscal.

Its saleable steel production increased by 14 per cent to 15.19 lakh tonnes during the second quarter as against 13.30 lakh tonnes in the corresponding period previous fiscal.

The company's hot metal production too went up to 17.95 lakh tonnes during the period as compared to 14.86 lakh tonnes in the previous fiscal — a growth rate of 21 per cent.

Talking about major highlights during the first half of the current fiscal, the company said, "In line with Tata Steel's expansion plans, the capacity enhancement of 'C' blast furnace from 0.4 mtpa to 0.7 mtpa was commissioned in September, 2009."