Tata Steel’s India output up by 5.1%, y-o-y

6 Apr 2023 , 09:30 AM

According to the provisional data shared by Tata Steel on April 5, the production volume of the company in India during the fourth quarter of the fiscal year 2022-23 increased by 5.1% y-o-y, reaching a total of 5.15 metric tonnes, as against a production of 4.90 metric tonnes in the previous corresponding period.

Tata Steel’s India division also saw a QoQ increase in production volume, with 5.15 million tonnes produced in Q4, a 3% rise compared to the 5 million tonnes produced in Q3.

According to the provisional data, Tata Steel’s India division produced a total of 19.87 million tonnes during the entire fiscal year 2022-23, which represents a 4% increase compared to the 19.06 million tonnes produced in the previous fiscal year 2021-22.

Tata Steel India achieved its ‘highest ever’ annual production, as stated in a press release, and the surge in output was attributed in part to the acquisition of the state-run steelmaker Neelachal Ispat Nigam in July of the previous year.

In the fourth quarter of the fiscal year 2022-23, Tata Steel India’s delivery volume increased by 0.6%, reaching 5.15 million tonnes, compared to 5.12 million tonnes during the same period the previous year.

During Q4FY23, Tata Steel witnesses an 11.3% y-o-y decline in deliveries made in Europe. The delivery volume for Tata Steel Europe during the quarter was 2.13 million tonnes, a decrease from the 2.40 million tonnes recorded during the same period in the previous fiscal year.

Provisional data shows that Tata Steel Europe’s delivery volume for the entire fiscal year 2022-23 was 8.12 million tonnes, a decrease from the 9.02 million tonnes delivered in the previous fiscal year 2021-22.

For feedback and suggestions, write to us at [e-mail]