Advertisement
Tuesday, Nov 30, 2021
Outlook.com
Outlook.com

Tata Steel Jul-Sep consolidated output at 7.26 MT

Tata Steel Jul-Sep consolidated output at 7.26 MT
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Oct 9 (PTI) Domestic steel giant Tata Steel on Friday said its consolidated steel production fell by 3.45 per cent to 7.26 million tonne (MT) in the second quarter of the current fiscal.

The company''s output in the year-ago period was at 7.52 MT, Tata Steel Ltd said in a regulatory filing.

During July-September 2020, Tata Steel India''s production stood at 4.59 MT, as against 4.50 MT in the same quarter a year ago.

In Europe, Tata Steel Europe produced 2.15 MT steel in the quarter under review, as compared to 2.45 MT in the same period of 2019-20.

Tata Steel South East Asia produced 0.52 MT of steel in July-September, as against 0.57 MT in the corresponding quarter last fiscal.

The company''s consolidated sales during the quarter under review was about 12 per cent up at 7.86 MT, from 7.02 MT in the same period a year ago.

During July-September 2020, Tata Steel India''s sales stood at 5.05 MT, as against 4.13 MT in the same quarter last year. In Europe, it sold 2.26 MT of steel as compared to 2.29 MT.

In South East Asia, the company sold 0.55 MT steel in the quarter under review as against 0.60 MT in the same period previous fiscal.

During the quarter under review, the company''s business in India remained positive in terms of production as well as sales, the figures showed.

Tata Steel said, while the 4.49 MT production in India registered a 2 per cent year-on-year growth during July-September 2020, the sales at 5.05 MT were the highest ever quarterly deliveries in India.

The company further said "during Q2 FY21, global economic activity has started to recover with phased relaxations in lockdown measures, however, the pace of improvement has been varying across the geographies.

"Company continues to monitor the situation and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community, and the interests of its customers and other stakeholders. We also continue to stay focused on aggressively managing costs and cash flows."

In India, the company said, in Q2 FY21, overall "apparent steel consumption" was down by 7.5 per cent y-o-y (year-on-year) while crude steel production was down by 1.9 per cent y-o-y.

In this environment, Tata Steel India ramped up its steelmaking and downstream operations back to pre-COVID level, with all major sites operating at around full capacity utilization, it said.

In Europe, macroeconomic and steel demand recovery was more gradual, it added. PTI ABI DRR

DRR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

More from Website

Anand Rathi Wealth IPO: Price Band Set At Rs 530-550 Per Share. Check Details

Anand Rathi Wealth IPO: Price Band Set At Rs 530-550 Per Share. Check Details

Anand Rathi's three-day IPO will conclude on December 6. The initial share sale is entirely an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders.

BAN Vs PAK, 1st Test: Pakistan Beat Bangladesh By 8 Wickets In Chattogram

BAN Vs PAK, 1st Test: Pakistan Beat Bangladesh By 8 Wickets In Chattogram

Resuming Day 5 at 109 without loss, and just 93 runs away from the victory, Pakistan's openers appeared to be in full control until off-spinner Mehidy Hasan struck. Azhar Ali then combined with captain Babar Azam to complete the inevitable.

What Could Be The Economic And Political Cost Of Omicron Spread In India?

What Could Be The Economic And Political Cost Of Omicron Spread In India?

Omicron scare is already visible in the industry with many customers cancelling their flights scheduled for December as state governments mull stricter travel rules to stop the variant’s spread.

More from Outlook Magazine

Of Protests, Heart Attack And Success: 74-Year-Old Farmer Recalls Her Journey From Amritsar To Singhu

Of Protests, Heart Attack And Success: 74-Year-Old Farmer Recalls Her Journey From Amritsar To Singhu

A 74-year-old woman from Amritsar narrates how she braved social prejudice, bitter cold and a heart attack to stay put at Singhu border with other protestors.

Dissent Is A Work Of Art

Dissent Is A Work Of Art

As a medium of ethical intervention, art has been pivotal in conveying messages of recent protests to the masses

From Arab Spring To Anti-Covid Stir, How The World Is Protesting

From Arab Spring To Anti-Covid Stir, How The World Is Protesting

Democracy is straining at the seams as authoritarian governments across the world lock horns with citizens.

Advertisement

Outlook Newsletters

Advertisement
Advertisement