NEWS

Tata Steel's sales grow 28% in the first quarter of this fiscal

Tuesday, Jul 04, 2017

Tata Steel posted a 28 per cent growth in sales volume in the first quarter of the current fiscal to 2.75 million tonne (mt), driven largely by a 16 per cent jump in hi-end products in its automotive segment and a ramp up in capacity at its new plant at Kalinganagar, Odisha.

Compared to this, Tata Steel had sold 2.15 mt of steel in the same period of last year. The company also saw a 46 per cent growth in sales volume (y-o-y) in small and medium enterprises segment in Q1FY18 year-on-year, primarily on account of spurt in sales of hot rolled products. Another highlight of the quarter just ended was a volume jump in exports, which grew 17 times in volume over the first quarter in FY17. The company also launched a first-of-its-kind retail outlet 'Tata Steel Sampoorna', wherein all the retail brands will be available to serve rural consumers.

In terms of production performance, Tata Steel reported a hot metal output of 3.41 mt in Q1FY18 over 3.01 mt in Q1FY17. Crude steel production was at 2.94 mt in the first quarter this year against 2.51 in first quarter last year.

The company's saleable steel output was at 2.95 mt in Q1FY18 against 2.34 mt in Q1FY17. At its Jamshedpur plant, Tata Steel's blast furnaces achieved best-ever Hot Metal production of 2.73 million tonne in surpassing the previous best 2.67 million tonne in Q1 FY17. Its pellet plant achieved best-ever 1.70 million tonne of production ahead of its previous best of 1.67 million tonne in Q1 FY17.

 

Source:economictimes.indiatimes.com

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