Monday, Aug 03, 2020 | Last Update : 03:34 PM IST

132nd Day Of Lockdown

Maharashtra44122827680915576 Tamil Nadu2576131964834132 Andhra Pradesh158764828861474 Delhi1376771233174004 Karnataka134819577252496 Uttar Pradesh92921533571730 West Bengal75516527301678 Telangana6766048609551 Gujarat63675466892482 Bihar5727036637322 Rajasthan4441031216706 Assam4290532385105 Haryana3651929690433 Odisha3491321955236 Madhya Pradesh3353523550886 Kerala259121446383 Jammu and Kashmir2141613127396 Punjab1785311466423 Jharkhand121884513115 Chhatisgarh9608699158 Uttarakhand7593443786 Goa6530466853 Tripura5248346323 Puducherry3806230952 Manipur283117377 Himachal Pradesh2654150813 Arunachal Pradesh19359693 Nagaland19356484 Chandigarh111769819 Meghalaya8742645 Sikkim6582891 Mizoram4702580
  Business   Companies  09 Jul 2020  Tata Steel sales fall by 23% in Apr-Jun quarter; output down by 28.49%

Tata Steel sales fall by 23% in Apr-Jun quarter; output down by 28.49%

PTI
Published : Jul 9, 2020, 1:19 pm IST
Updated : Jul 9, 2020, 1:19 pm IST

Tata Steel's India sales were at 2.92 MT, down from 3.96 MT in the year-ago period, while the production volume fell to 2.99 MT from 4.5 MT

 Tata Steel sales fall 23 pc to 5.28 MT in Apr-Jun qtr; output down 28.49 pc. (PTI Photo)
  Tata Steel sales fall 23 pc to 5.28 MT in Apr-Jun qtr; output down 28.49 pc. (PTI Photo)

New Delhi: Tata Steel Ltd (TSL) on Thursday said its consolidated sales fell 22.8 per cent to 5.28 million tonnes (MT) during April-June quarter 2020 as compared to consolidated sales of 6.84 MT in the year-ago period, as the COVID-19 pandemic disrupted operations.

The consolidated production during the quarter also fell 28.49 per cent to 5.52 MT from 7.72 MT in the first quarter of 2019-20, TSL said in a regulatory filing.

 

In the just concluded quarter, TSL's India sales were at 2.92 MT, down from 3.96 MT in the year-ago period, while the production volume fell to 2.99 MT from 4.5 MT.

The company's sales in Europe fell to 1.94 MT from 2.26 MT in the year-ago period, while production fell to 2.14 MT from 2.65 MT.

Tata Steel South East Asia registered sales of 0.42 MT compared to 0.62 MT in first quarter of 2019-20, while the output was at 0.39 MT, as against 0.57 MT in the same quarter a year ago.

Tata Steel said overall first quarter of 2020-21 production and sales volumes were lower as the outbreak of COVID-19 and ensuing mobility restrictions severally impacted industrial activity and consumer sentiment across all geographies.

 

"In India, capacity utilisation of our upstream facilities was adjusted to about 50 per cent level in April while our downstream units were closed,” the company said.

With the phased opening of the economy, the company stated that the utilisation levels have been ramped up gradually to around 80 per cent level by end of June, adding that downstream facilities have also been restarted and are being ramped up progressively.

Tata Steel said to counter the closure of the Indian markets in April and May, export was ramped up significantly by tapping new markets and improving the supply chain capability and will constitute around 50 per cent of total sales volume in the first quarter of 2020-21.

 

"While April and May sales were lower, sales improved significantly in June as economic activity resumed in India. With the continued opening of the economy and the improvement in domestic demand, the proportion of domestic sales will increase from second quarter," the company added.

Tata Steel said while urban markets are showing slow recovery, retail sales, especially in rural markets, are seeing an improvement in demand.

Shares of Tata Steel were trading 3.13 per cent higher at Rs 344.65 apiece on BSE.

Tags: tata steel, tata steel sales, steel production, lockdown, covid 19
Location: India, Delhi, New Delhi