Tata Steel's consolidated production remains flat at 7.66 MT in April-June

Tata Steel

Tata Steel on Tuesday said its consolidated steel output remained flat at 7.66 million tonnes (MT) during April-June quarter of the current financial year.

The company produced 7.65 MT of steel in the same quarter of the previous fiscal, Tata Steel said in a regulatory filing.

The company’s consolidated sales during the said period fell 4 per cent to 6.53 MT, from 6.83 MT in the year-ago quarter.

According to the company data, only its India operation has registered a growth in production.

Tata Steel India registered over 6 per cent rise in output at 4.92 MT as compared to 4.63 MT it had produced during April-June 2021-22. Its sales fell 2 per cent to 4.06 MT in the said period from 4.15 MT a year ago.

Tata Steel Europe produced 2.43 MT steel in April-June 2022, down from 2.67 MT in same period of the preceding fiscal. Sales in Europe also fell to 2.16 MT from 2.33 MT in the year ago quarter.

In Thailand, Tata Steel Thailand produced 0.31 MT steel, lower from 0.35 MT in the corresponding period of 2021-22 fiscal. Sales were down at 0.31 MT compared to 0.35 MT a year ago.

"Deliveries (in India) at 4.06 MT were lower due to moderation in exports following the imposition of 15 per cent export duty,” Tata Steel said.

In Europe, the deliveries at 2.16 MT were lower in line with the production there, the company said.