New Delhi: Tata Steel’s sales in the first quarter of current fiscal remained unchanged at 1.59 MT, as power cuts impacted downstream production.
According to a company statement, sales were a tad lower compared with the immediate previous quarter (January-March), when it touched 1.79 MT.
Tepid sales. Reuters
“Sales were marginally lower quarter-on-quarter on account of power outages which impacted downstream production,” the company said.
Tata Steel’s saleable steel production was also down during the quarter at 1.74 MT against 1.75 MT in the corresponding quarter a year ago and 1.78 MT in the fourth quarter of 2011-12.
However, it reported 1.67 percent rise in its crude steel production during the reporting quarter at 1.82 MT against 1.79 MT crude steel in the April-June quarter of last fiscal.
Hot metal production of the company, however, was higher by 5.67 percent during the reporting quarter at 2.05 MT compared to 1.94 MT a year ago. This was the highest-ever hot metal production by the company in a single quarter.
PTI
