Tata Steel production up 6.8%, sales grow 10.5% in 2017-18

Tata Steel on Friday said its production increased by 6.8 per cent to 12.48 million tonnes (mt) in its Indian operations with sales growing by over 10.5 per cent to 12.13 mt during 2017-18.

According to its provisional data, sales from its Europe operations, at 9.93 mt in the last fiscal, were flat while production grew marginally to 10.68 mt in 2017-18 over 10.56 mt produced by Tata Steel Europe during previous fiscal.

During January-March quarter of the fiscal, Tata Steel India reported a production of 3.07 mt with sales at 3.01 mt and both sales and production were down marginally compared to corresponding period of 2016-17.

"During Q4FY18, the production and sales were impacted by an unforeseen breakdown of the blast furnace at Kalinganagar," a company statement said.

During the quarter under review, its Europe operations' sales volumes were marginally higher at 2.48 mt on a quarter-on-quarter basis, while its production at 2.62 mt was marginally lower "mainly due to unplanned outages".

Production and sales volume in southeast Asia were stable on a q-o-q basis during the last quarter of 2017-18.

--IANS

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