Tata Steel reports 24% growth in steel production in fourth quarter

India’s Tata Steel reported a 24 per cent growth in saleable steel production at 3.1 million tonnes (MT) for the fourth quarter of FY 2016-17.

The company said in a filing to the stock exchange that it had produced 2.5 MT of saleable steel in the same quarter of the preceding fiscal.

The company’s crude steel production during the January-March quarter of 2016-17 also grew to 3.2 MT from 2.5 MT in the year-ago period, it said.

Tata Steel’s sales too grew to 3.1 MT, as against 2.7 MT a year ago.

The company’s hot metal production was up at 3.5 MT, as compared to 2.7 MT in the same quarter of the 2015-16 fiscal.

According to the filing, the company’s “blast furnaces at its Jamshedpur plant achieved best-ever hot metal fiscal 2016-17 production of 10.83 million tonnes (previous best was 10.66 million tonnes in 2015-16).

 

Shekhar Ghosh is a communications consultant and and former journalist, who has edited and written for publications such as like Business India, Business Standard, Business Today and Outlook.

Leave a Reply

Your email address will not be published. Required fields are marked *