Tata Steel’s combined output decreased from 7.69% to 7.08 MT in the first quarter while its sales increased by 8%.
In the first quarter of FY24, the combined production of Tata Steel decreased to 7.08 million tonnes (MT), the company reported on Thursday.
The company’s combined production from April through June of the previous fiscal year was 7.67 MT, according to a statement from Tata Steel.
Consolidated deliveries, on the other hand, increased 7.97 percent from 6.52 MT in the same time of the previous fiscal to 7.04 MT.
Tata Steel India increased their quarterly steel production in India from 4.92 MT to 5.01 MT. Deliveries increased in India from 4.07 MT to 4.80 MT.
Production at Tata Steel Europe decreased from 2.44 MT in April-June FY23 to 1.81 MT. Deliveries in Europe decreased from 2.14 MT in the same period a year ago to 1.97 MT this quarter.
Tata Steel Thailand produced 0.26 MT in Thailand, a decrease from 0.31 MT in Q1 of the previous fiscal. Deliveries decreased to 0.27 MT in Thailand from 0.31 MT in the same quarter last year.
“Tata Steel Europe’s production of crude steel has decreased as a result of the planned relining of BF6 at Tata Steel Netherlands starting in April. The crude steel deliveries totalled 1.97 MT while output was 1.81 MT,” according to the company,
With its head office in Mumbai, Maharashtra, and its plant in Jamshedpur, Jharkhand, Tata Steel Limited is a global Indian steel manufacturer. It belongs to the Tata group of compnies.
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