Tata Steel logs 5% y-o-y growth in Q2 crude steel production

7 Oct 2024 , 11:25 AM

On Monday, October 7, Tata Steel released its September quarter business update. In the second quarter of the current fiscal year (FY25), crude steel production in India reached 5.27 Million tonnes, up from 5.02 Million tonnes the previous year.

Tata Steel India’s delivery volumes increased 5% to 5.10 Million tonnes in the current quarter, up from 4.82 Million tonnes the previous year.

On a half-year basis, Tata Steel India’s crude steel output jumped 5% to 10.53 Million tonnes, while deliveries increased 4% to 10.04 Million tonnes.

Tata Steel’s quarterly deliveries of automotive and special products were slightly lower year on year, but half-year deliveries remained consistent at 1.6 Million tonnes.

In terms of branded products and retail, the company’s quarterly deliveries increased by 3% year on year, headed by Tata Tiscon, which reported its “best-ever” second-quarter sales increase of 20% year on year. Half-year deliveries increased by 4%, reaching 3.3 Million tonnes.

The company’s quarterly deliveries of industrial products and projects increased 4% year on year, led by growth in value-added categories such as engineering. Half-year deliveries remained constant at approximately 3.6 Million tonnes.

Tata Steel’s e-commerce platform, Tata Steel Aashiyana, had its “best-ever” half-year performance with revenues of ₹1,263 Crore. Strategic measures, such as a migration to an in-house transaction platform, contributed to this success.

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