Tata Steel production grows 22%, sales up 17% in Q4

Tata Steel Ltd on Saturday reported a 22 per cent increase in saleable steel production to 3.108 million tonnes (mt) for the quarter ended March 31, 2017 as compared to 2.546 mt in the same period the previous financial year.

The steel producer sold 3.177 mt in the fourth quarter of 2016-17, up 17 per cent from 2.719 mt in the year-ago period.

It achieved 15 per cent growth in sales at 10.94 mt in 2016-17 as compared to 9.54 mt sold by the company in 2015-16.

Tata Steel achieved the highest ever annual automotive sales at 1.54 mt, a growth of 9 per cent year-on-year against industry growth of 6 per cent, taking its market share from 42 per cent in 2015-16 to 44 per cent in 2016-17.

The blast furnaces at its Jamshedpur plant achieved the best ever hot metal production of 10.83 mt in FY 17 (2016-17), while the previous best was at 10.66 mt in FY16 (2015-16), the company said.

--IANS

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