Companies

Tata Steel sales up 15% in Q4 on rise in demand

Our Bureau Mumbai | Updated on April 06, 2021

Tata Steel has reported that its sales in the March quarter was up 15 per cent at 4.67 million tonne, against 4.03 mt logged in the same period last year, on back of increase in overall demand.

The company recorded the highest-ever quarterly crude steel production of 4.75 mt (4.73 mt), which was up marginally compared to last year. Steel production in FY21 was down seven per cent due to the disruption caused by Covid pandemic in the first half of last fiscal.

Exports accounted for 11 per cent of the overall sales, the company said.

Europe operations

Tata Steel Europe registered four per cent increase in sales at 2.49 mt (2.39 mt) while production was flat at 2.65 mt (2.64 mt) amid improved market conditions and seasonally stronger quarter.

Tata Steel 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 the health and safety of employees, the company said.

The company remains focused on aggressively managing costs and cashflows while pursuing deleveraging, it added.

Published on April 06, 2021

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