Companies

Tata Steel sales, output up on lower base

Our Bureau Mumbai | Updated on July 04, 2021

employees are busy with the steel roll at Tata Steel plant at Jamshedpur in Jharkhand (file photo).   -  Arunangsu Roy Chowdhury

Steel production was up 55 per cent to 4.62 million tonnes

Tata Steel has reported that its sales in the June quarter increased 42 per cent to 4.15 million tonne against 2.93 mt logged in the same period last year. Steel production was up 55 per cent to 4.62 mt (2.99 mt) as both sales and production were impacted by lockdown imposed amid first wave of Covid last year.

Sales to automotive and special products’ was up three times as auto companies production was impacted last year while branded products and retail segment sales more than doubled.

Tata Steel continues to focus on improving its offerings to the domestic market. Sales of value-added products to key segments like pre-engineered buildings, oil and gas, agricultural implements grew 175 per cent, said the company.

Tata Steel Aashiyana, an e-commerce platform for Individual Home builder, grew revenues by seven times to ₹257 crore.

However, on a sequential basis crude steel production decreased three per cent due to supply of over 47,800 tonnes of liquid medical oxygen to hospitals amid the second wave of Covid pandemic.

Similarly, sales were down 11 per cent on the back of partial lockdowns announced by some of states and temporary shutdowns in few steel consuming sectors to tackle Covid.

To offset the impact of lower domestic demand, exports increased to 16 per cent of the total sales aginst 11 per cent registered in March quarter. The domestic market has been improving since mid-June with easing of lockdowns, said the company.

Tata Steel Europe’s Steel production grew by 27 per cent year-on-year to 2.73 mt while sales increased by 19 per cent.

Tata Steel south-east Asia’s Steel production grew 49 per cent and sales were up 50 per cent.

Currently, about 82 per cent of Tata Steel employees are vaccinated for first dose. The company continues to closely monitor the resurgence of Covid cases and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view with the health and safety of its employees.

Published on July 04, 2021

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