Tata Steel's India production up marginally in Q3, sales up by 10%

Tata Steel on Friday said its India production in the October-December 2017 period was marginally up by 3.1 per cent to 3.26 million tonnes (mt) compared to 3.16 mt produced in the corresponding quarter of 2016-17.

The steel maker also said its sales, during the quarter under review, were at 3.30 mt, up by over 10 per cent from 2.99 mt in the year-ago period.

In the first nine month period (April-December) of the current fiscal, its India production was at 9.24 mt compared to 8.22 mt produced in the same period of the last financial year, the company said in a statement.

 

During the April-December period, its sales at 9.12 mt registered about 18 per cent growth over the 7.76 mt in the corresponding period of 2016-17.

However, the steel maker's production from European operation in the December quarter was slightly higher at 2.67 mt as compared to 2.64 mt in the comparable period in 2016-17, it said.

In terms of sales, Europe operations registered higher sales during the quarter at 2.39 mt.

Steel producer's Kalinganagar plant ramped-up to 100 per cent capacity utilisation for commercial saleable steel production.

It achieved highest-ever quarterly sales in 'automotive and special products' segment with a growth of 6 per cent quarter-on-quarter and 26 per cent year-on-year.

--IANS

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