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Tata Steel NSE 1.88 % Ltd’s crude steel production grew by 16% year-on-year (yoy) to 14.16 million tonnes as at the end of nine months ending 31st December 2021, and its total deliveries increased by 4% at 13 MT yoy on the back of continued economic recovery.
“During the third quarter of FY22, Crude steel production was up 1.5% quarter-on-quarter (qoq) to 4.8 MT and overall deliveries were lower by 4% (qoq) 4.41 as an increase in domestic deliveries was offset by lower exports,” the company said in a statement on Friday.
Tata Steel’s Automotive & Special Products segment deliveries increased by 53% yoy in 9M ending FY22 and the 3QFY22 deliveries were broadly similar on QoQ basis, the company said.
Branded Products & Retail segment deliveries increased by around 14% yoy in 9MFY22 with 3QFY22 deliveries were higher by 2% qoq.
“Tata Steel’s micro-segmentation approach in the MSME segment has helped to increase the downstream branded play by 31%,” the company’s statement said.
Industrial Products & Projects segment deliveries increased by 11% yoy in 9MFY22; 3QFY22 deliveries were higher by 3% qoq with an increased focus on value-added products, the company said.
Tata Steel Aashiyana, an e-commerce platform for Individual Homebuilders, registered 129% growth in 9MFY22, total gross revenue stood around Rs 960 crores.
Tata Steel Europe steel production grew by 13% yoy to 7.79 MT and total deliveries increased by 4% yoy as of 31st December 2021. During 3QFY22, Crude steel production and deliveries remained broadly similar on QoQ basis amidst supply chain issues in steel-consuming sectors including chip shortages faced by the Automotive sector.
Source | economictimes.indiatimes.com
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