Coronavirus lockdown measures drag Tata Steel's fourth quarter sales

Tata Steel India also achieved an eight per cent year-on-year production growth to 18.21 million tonnes for the full year FY20 along with best ever annual sales at 16.97 million tonnes

Logistic issues and lower demand due to lockdown measures in India resulted in lower sales for Tata Steel in the fourth quarter (Q4FY20).

The steel major recorded sales of 4.03 million tonnes, a 17 per cent drop from the previous quarter and 14.61 per cent in the same period last year. Tata Steel said that the lockdown led to logistic issues and lower demand, due by the shutdown of customer operations in automotive, construction and other segments since last few days of March 2020. Production volume was however up by 6 per cent to 4.74 million tonnes in the fourth quarter.

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