Tata Steel Q3 update: Sales fall 3% even as output rises

On Friday, Tata Steel shares closed 0.44% lower at ₹1,158.15 apiece on NSE. (Reuters) — On Friday, Tata Steel shares closed 0.44% lower at ₹1,158.15 apiece on NSE. **(Reuters)**

1 min read . Updated: 07 Jan 2022, 08:27 PM IST PTI

Tata Steel consolidated steel production had stood at 7.51 MT in the corresponding period of the previous financial year 2020-21, the steel giant said in a statement.

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Tata Steel on Friday reported an over two per cent rise in consolidated steel output to 7.68 million tonnes (MT) for the October-December 2021 period.

The company's consolidated steel production had stood at 7.51 MT in the corresponding period of the previous financial year 2020-21, the steel giant said in a statement.

However, its consolidated sales during October-December 2021 fell by around 3 per cent to 6.88 MT, against 7.09 MT in the year-ago period.

In India, Tata Steel produced 4.80 MT of steel in the December 2021 quarter, compared to 4.60 MT a year ago. The sales in India stood at 4.41 MT, against 4.65 MT a year ago.

Tata Steel Europe produced 2.56 MT of steel as against 2.59 MT a year ago, while sales in Europe rose to 2.15 MT from 2.11 MT earlier.

Production of Tata Steel Southeast Asia during the said period remained flat at 0.32 MT, compared with 0.32 MT a year ago. Its sales stood at 0.32 MT compared with 0.33 MT in the year-ago period.

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India headquartered Tata Steel Group is among the top global steel companies with an annual capacity of 34 MT.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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