Tata Steel Records Higher Sales in Q3

Kolkata: Tata Steel on Friday said its provisional India production in the October-December 2017 period was marginally down at 3.24 million tonnes compared to 3.28 million tonnes in the corresponding quarter of 2016-17.

But in the first nine month period from April-December of the current fiscal, its India production was at 9.23 million ton compared to 8.34 million tonne production in the same period of the last financial year, the company said in a statement.

However, the steel maker's European operation production in the quarter under review was slightly higher at 2.68 million tonnes as compared to 2.64 million tonnes in the comparable period in 2016-17, it said. In terms of sales, both in India and Europe, operations registered higher sales during the quarter at 3.3 million tonnes and 2.41 million tonnes respectively.

Steel producer's Kalinganagar plant ramped-up to 100 per cent capacity utilisation for commercial saleable steel production. It achieved highest ever quarterly sales in aautomotive and special products' segment with a growth of 6 per cent over last quarter and 26 per cent over last year.