NEW DELHI: Shares of Tata Steel, the country’s largest steel maker, added 2.2 per cent in early trade Wednesday after the company said that its total sales registered a rise of 4 per cent to 7.82 million tonnes in January-March from 7.51 MT a year ago.
The firm’s consolidated steel output, however, dipped 3 per cent on-year to 7.57 MT in the previous quarter. Tata Steel had produced 7.80 MT of steel during the January-March quarter of FY 2020-21.
The company’s counter climbed to a high of Rs 1,375 as against Rs 1,344.90 at previous close on the BSE.
At 9:55 am, the BSE Sensex and the Nifty50 were trading down 0.7 per cent and 0.6 per cent, respectively.
According to a statement by the company, Tata Steel India produced 4.90 MT of steel in the quarter and sold 5.12 MT. In the year-ago period, the company's output in India was at 4.75 MT, while it posted 4.67 MT sales.
In the fourth quarter ended March 2022, Tata Steel Europe's output was at 2.33 MT and sales at 2.36 MT. It had produced 2.66 MT steel in the same period a year ago and sold 2.47 MT.
Tata Steel Thailand produced 0.34 MT steel and sold 0.34 MT during the quarter under review. The company had produced 0.39 MT steel and sold 0.37 MT in the March quarter of FY22.
India-headquartered Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum.
The firm’s consolidated steel output, however, dipped 3 per cent on-year to 7.57 MT in the previous quarter. Tata Steel had produced 7.80 MT of steel during the January-March quarter of FY 2020-21.
The company’s counter climbed to a high of Rs 1,375 as against Rs 1,344.90 at previous close on the BSE.
At 9:55 am, the BSE Sensex and the Nifty50 were trading down 0.7 per cent and 0.6 per cent, respectively.
According to a statement by the company, Tata Steel India produced 4.90 MT of steel in the quarter and sold 5.12 MT. In the year-ago period, the company's output in India was at 4.75 MT, while it posted 4.67 MT sales.
In the fourth quarter ended March 2022, Tata Steel Europe's output was at 2.33 MT and sales at 2.36 MT. It had produced 2.66 MT steel in the same period a year ago and sold 2.47 MT.
Tata Steel Thailand produced 0.34 MT steel and sold 0.34 MT during the quarter under review. The company had produced 0.39 MT steel and sold 0.37 MT in the March quarter of FY22.
India-headquartered Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum.
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