Overall demand picked up, see better FY18: Tata Sponge

Tata Sponge Iron posted a strong set of first quarter earnings. In an interview to CNBC-TV18, Sanjay Pattnaik, MD of the company spoke about the results and gave his outlook for the company.

Sponge prices have been fluctuating but overall demand has picked up and therefore the average yearly net realisation of FY18 would be better than FY17, said Pattnaik.

"I am happy to report that Q1 was the best ever quarter as far as sponge iron production is concerned and we produced 113,000 tonne," he added.

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