Tata Steel consolidated output falls 3.2% to 7.26 MT in Jul-Sep 2023

New Delhi: Tata Steel has posted a 3.2 per cent decline in consolidated production to 7.26 million tonne during the second quarter of the ongoing fiscal.

Its consolidated output was at 7.5 MT in the year-ago period, Tata Steel said in a statement.

The consolidated deliveries during the period were at 6.89 MT as against 7.06 MT in the year-ago quarter, posting a decline of 2.40 per cent.

During the period under review, Tata Steel India produced 4.99 MT steel, up from 4.80 MT in same period of the previous financial year.

Deliveries in India were down at 4.82 MT from 4.91 MT in the same quarter a year ago, as per the statement.

In Europe, Tata Steel produced 1.99 MT steel in the April-September period, down from 2.40 MT last year. The deliveries in Europe also fell to 1.79 MT from 1.87 MT.

Tata Steel Thailand produced 0.28 MT steel as against 0.30 MT last year, while the deliveries were the same as production numbers in the country.

Automotive & special products' segment deliveries increased about 7 per cent quarter-on-quarter as well as year-on-year.

This was driven by best-ever sales in the second quarter.

Tata Steel has begun to receive approvals from automotive original equipment manufacturers for cold-rolled steel from the recently commissioned cold rolling mill at Kalinganagar.

"Tata Steel Europe liquid steel production for the quarter stood at 1.99 million tons, up 11 per cent against the previous quarter, but down from the year-ago period," the company said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)