Tata Steel's India Output Grows 3% In Oct-Dec, Sales Decline 4%

on Friday said its total output from India operations rose 3 per cent to 4.60 million tonnes (MT) during October-December quarter of the current financial year.

The output from company's operations in India was at 4.47 MT in the year-ago period, said in a statement.

Its sales from India operations during the period under review were at 4.66 MT, down 4 per cent from 4.85 MT in the same quarter of 2019-20 financial year.

Europe's output also rose 4 per cent to 2.61 MT from 2.51 MT in the year-ago period.

Sales from operations in Europe declined 10 per cent to 2.11 MT during the period under review from 2.35 MT in October-December of 2019-20.

"Automotive and special products' segment deliveries grew 48 per cent quarter-on-quarter (q-o-q) on the back of improvement in overall demand, increased share of business from existing customers and new product approvals," the company said in the statement.

Deliveries of branded products and retail segment grew by 5 per cent q-o-q, it said.

"Industrial products and projects' segment deliveries were marginally lower. However, the company achieved a 47 per cent q-o-q delivery volume growth in high-end segments as we continued to focus on product mix enrichment by catering in sub-segments such as oil and gas, lifting and excavation and pre-engineered buildings," it added.

Tata Steel is among the top global steel with an annual crude steel capacity of 34 million tonnes per annum.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

RECENT NEWS

Central Banks And The Economic Horizon: Steering Through Uncertaintie

In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more

Transforming Financial Operations With Robotic Process Automation

Author: Ricardo Goulart                           ... Read more

The Role Of Machine Learning In Fraud Detection

        Author: Gerardine Lucero                  &nbsp... Read more

Principles Of Islamic Banking And Finance

When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more

The Role Of Central Banks In Global Economy

The role of central banks in global economy is a stimulating topic that requires profound understanding. Commonly, centr... Read more

History Of Banking Evolution In The 21st Century

Throughout time, the banking sector has assumed a central role in the smooth functioning of economies, generating growth... Read more