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Tata Steel BSL Q3 sales down at 0.92 MT; output almost flat at 1.04 MT

Press Trust of India  |  New Delhi 

BSL, formerly known as Limited (Company) said Tuesday it has recorded lower sales at 0.92 million tonne (MT) for October-December over the previous quarter on account of sell down and lower demand.

The company had recorded 1.14 MT of sales in the previous quarter, it said in a regulatory filing to the BSE.

The production during the third quarter stood at 1.04 MT as against 1.05 MT in the previous quarter.

"Production was in-line with 2Q FY19; Sales volume in 3Q FY19 was lower as 2Q FY19 sales volume included sell-down. Sales was also affected due to softer demand in 3QFY19, mainly in automotive and appliance segments, and replenishment," it said.

BSL Limited, formerly known as Limited (Company), is India's fifth largest producing company with an existing capacity of 5.6 million tonne per annum (MTPA) as on March 31, 2018.

It has India's largest and is one of the largest suppliers of automotive grade and in the country.

The company recorded a gross revenue of USD 2675.79 million (Rs 17,404 crore) in FY18. The organization is spread across with an employee base of over 5,600.

On May 18, 2018, the company was acquired by Limited through its wholly-owned subsidiary through an insolvency auction.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 19:01 IST