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Tata Steel reported eight per cent lower sales in the September quarter at 4.64 million tonne (mt) against 5.05 mt logged in the same period last year, due to lower exports and stock liquidation focus in the previous year.
Production in the quarter was up three per cent at 4.73 mt (4.59 mt).
Tata Steel launched new Tata Tiscon 550SD rebar for retail customers. Tata Steel BSL launched Tata Steelium Super which will enhance the company’s presence in the retail segment.
Tata Steel Aashiyana, an e-commerce platform for individual home builders, registered a 32 per cent growth quarter-on-quarter with gross revenues of ₹338 crore in the September quarter.
Europe sales
Tata Steel Europe sales were down five per cent at 2.16 mt (2.27 mt) while that of South-East Asia operations was up marginally at 0.60 mt (0.55 mt). Production in Europe increased 19 per cent to 2.56 mt (2.15 mt) while in South-East Asia it was down at 0.49 mt (0.51 mt).
Production in Europe was hit by temporary operational issues at both the Netherlands and UK steel making sites while overall sales were down due to seasonal impact and slowdown in automotive steel sales amid microchip shortages. Operations in South-East Asia were hit by lockdown in Malaysia and Thailand due to spread of Covid, it said.
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