New Delhi, Apr 13 (PTI) Leading steel maker Tata Steel today posted 4 per cent fall in production in India at 3.07 million tonnes (MT) for the quarter ended on March 31, 2018.
It had produced 3.20 MT steel in the year-ago quarter, according to a company statement.
Sales in India also fell 6.23 per cent to 3.01 MT during the January-March quarter of 2017-18 from 3.21 MT in the same period a year-ago.
However, for the full 2017-18 financial year, the company registered a rise of 6.84 per cent at 12.48 MT as against 11.68 MT during 2016-17. Domestic sales also improved to 12.13 MT in 2017-18 from 10.97 MT in FY 2016-17.
“Tata Steel India production improved with better utilisation at Jamshedpur works coupled with continued ramp-up at Kalinganagar in FY18. During Q4 FY18, the production and sales were impacted by an unforeseen breakdown of the Blast Furnace at Kalinganagar,” the statement said.
In Europe, the company’s output was flat at 2.62 MT in the last quarter of 2017-18. Sales during the period fell 14.91 per cent to 2.48 MT from 2.85 MT in the year-ago period.
For the whole of 2017-18, the production in Europe was at 10.68 MT, higher than 10.56 MT in 2016-17. Sales remained flat at 9.93 MT.
“Tata Steel Europe sales volumes were marginally higher on q-o-q (quarter-on-quarter) basis in Q4 FY18, however, production was marginally lower mainly due to unplanned outages,” the company said.
In South-East Asia also, the company saw its production falling to 0.57 MT from 0.59 MT in the January-March of 2016-17. Sales also fell to 0.62 MT from 0.66 MT.
During 2017-18, the company produced 2.23 MT, lower from 2.28 MT in the preceding fiscal. The sales during the entire fiscal fell to 2.51 MT from 2.61 MT in FY 2016-17.
Tata Steel Group is one of the world’s largest steel companies with a production capacity of approximately 27.5 million tons per annum (MTPA) as on March 31, 2017.
It is a geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
This is published unedited from the PTI feed.