Companies

Tata Steel sales rise 8% to 2.97 million tonnes in June quarter

Our Bureau Mumbai | Updated on July 06, 2018 Published on July 06, 2018

Tata Steel sales in the June quarter were up by eight per cent to 2.97 million tonnes from 2.75 mt logged in the same period last year.

However, it was down marginally against 3.03 mt recorded in March quarter despite talks of robust demand across sectors. Production was up 3 per cent at 3.17 mt against 3.07 mt in March quarter. It was increased eight per cent compared to output of 2.94 mt logged in June quarter, 2017.

Production in the quarter under review was more than March quarter largely due higher output at Kalinganagar, said the company in a statement on Friday. Automotive and special products achieved highest ever quarterly sales of 5,57,000 tonnes in this quarter due to stronger demand and new product approvals.

Branded product and retail business has achieved highest ever first quarter sales of 9,75,000 tonnes, registering a growth of 12 per cent compared to 8,73,000 tonnes logged in same period last year.

Overall engineering segments registered 70 per cent year-on-year growth with 97,000 tonnes (57,000 tonnes).

In Europe, the company’s sales were down marginally at 2.43 mt against 2.55 mt in March quarter and 2.40 mt in June quarter last year. However, output in Europe was up at 2.81 mt against 2.79 mt in June quarter last year and the same in March quarter was 2.63 mt. Production and sales were marginally down at its plant in South-east Asia.

Shares of the company were up 0.12 per cent at ₹554 on Friday.

Published on July 06, 2018
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