Tata Steel April-June crude steel output up 55% YoY to 4.62 million tonnes
Tata Steel crude steel production grew 55 per cent in Q1FY22 to 4.62 million tonnes as against the same period last year which was impacted due to the Covid-19 pandemic and the stringent nationwide lockdown.
Tata Steel India deliveries increased by 42 per cent in the period under review to 4.15 million tonnes on a year-on-year basis.
During the quarter, the company’s crude steel production declined 2.6 per cent sequentially due to the supply of over 47,800 tonnes of liquid medical oxygen to hospitals amid the second Covid-19 wave.
Steel deliveries also declined 11 per cent sequentially due to partial lockdowns announced by some states and temporary shutdowns in few steel consuming sectors amid the second Covid-19 wave.
Exports offset the impact, rising to 16 per cent of the total sales as against 11 per cent in Q4FY21. The domestic market has been improving since mid-June 2021 with easing lockdowns, said the company.
Tata Steel Europe’s Steel output grew 27 per cent year-on-year to 2.73 million tonnes; Steel deliveries rose 19 per cent.
Tata Steel Southeast Asia’s Steel production grew 49 per cent YoY, while steel deliveries were up 50 per cent in the period under review.
Tata Steel India has undertaken several vaccination drives it said at all of its operating locations. Currently, around 82 per cent of its employees are vaccinated for the first dose.
Source: Business Standard