Categories: Business

Tata Steel sales down 23 percent in June quarter, production down 28.49 percent

Photo: GOOGLE

Tata Steel sales fall 23 pc to 5.28 MT in Apr-Jun qtr; output down 28.49 pc

New Delhi Tata Steel Limited (TSL) on Thursday said its consolidated sales during the April-June 2020 quarter declined by 22.8 percent to 52.8 lakh tonnes from 68.4 tonnes in the year-ago period. The company said that its sales were affected by the corona virus epidemic.

TSL told the stock market that consolidated production during the period under review was 28.

It was down 49 per cent to 55.2 tonnes as against 77.2 tonnes in the first quarter of 2019-20. Sales of TSL in India were 2.29 million tonnes during the last quarter. The figure was 39.6 lakh tonnes in the year-ago period. Production in India declined from 4.5 million tonnes to 29.9 million tonnes.

The company's sales in Europe stood at 19.4 lakh tonnes, compared to 22.6 lakh tonnes in the year-ago period. The company's production in Europe stood at 21.4 lakh tonnes in the period under review from 26.5 lakh tonnes a year ago. Tata Steel's sales in South East Asia also declined to 4.2 lakh tonnes in the first quarter, from 6.2 lakh tonnes a year earlier. The company's production here was 3.9 lakh tonnes, compared to 5.7 lakh tonnes a year ago.

This post was published on July 9, 2020 1:55 pm

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