Tata Steel production remains almost flat at 7.4 mt in Jan-Mar quarter

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Domestic steel giant Tata Steel on Tuesday said its consolidated steel production remained almost flat at 7.4 million tonnes (MT) in the quarter ended March 31, 2021.

The company’s output was 7.37 MT in the year-ago period, Tata Steel Ltd said in a BSE filing.

In January-March 2020-21, Tata Steel India produced 4.75 MT as against 4.73 MT a year ago. In Europe, the company produced 2.65 MT in the quarter as compared to 2.64 MT.

Tata Steel’s consolidated sales during the quarter under review stood at 7.16 MT, up from 6.42 MT in the year-ago period.

In January-March this year, Tata Steel India’s total sales were 4.67 MT as against 4.03 MT a year ago. In Europe, its sales stood at 2.49 MT compared to 2.39 MT.

Tata Steel did not provide production and sales figures of Tata Steel South East Asia in the filing.

In 2020-21, the company reported lower production of 26.48 MT, compared to 28.46 MT in the preceding fiscal.

Sales in FY21 stood at 26.15 MT as against 26.26 MT in the year-ago period.

“Full-year FY21 production was lower by 7 per cent year-on-year, primarily due to the disruption caused by COVID-19 pandemic in 1HFY21 (April-September),” Tata Steel said.

Source: Business Standard

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