Tata Steel's half-yearly sales grow 6.56 per cent

Tata Steel on Friday said that its sales grew 6.56 per cent to 4.77 million tonnes during the first six months of the current fiscal as compared to 4.47 million tonnes sold in the corresponding period last year.

The sales for July-September quarter stood at 2.62 million tonnes, up by 12.4 per cent as against 2.33 million tonnes in the same period last year, the company said.

Saleable steel production increased by 11 per cent year-on-year (y-o-y) in July-September quarter to 2.71 million tonnes and the same rose nine per cent in the first six months of the current fiscal to 5.06 million tonnes.

"Sales to automotive segment grew by seven per cent y-o-y in line with market growth, thereby retaining leadership position. Availability of additional volumes enabled 12 per cent y-o-y growth in sales to industrial products and projects segments," a statement said.

It also said the crude steel production in the quarter ended September was at 2.82 million tonnes, up by 13 per cent and the same stood at 5.35 million tonnes in the first six months of the current fiscal, up by 10 per cent y-o-y.

--IANS

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