Tata Steel Q3 production up 28%

Tata Steel on Monday reported 28% growth in saleable steel production to 3.2 million tonnes (MT) for the third quarter of the ongoing fiscal on the back of ramp up its Kalinganagar plant.

The production was 2.5 MT in the same quarter of the last fiscal, Tata Steel said in a filing to BSE.

The company's crude steel production during the October- December quarter of 2016-17 also grew to 3.2 MT, against 2.5 MT in the year-ago period.

Its sales grew to nearly 3 MT against 2.3 MT in the year-ago period.

Tata Steel said: "Q3 FY'17 saw sales of 2,994 (thousand tonne) an increase of 27 per cent over last year in the same period. It is also an increase of 14 per over Q2 FY'17, largely due to Tata Steel Kalinganagar ramp up," it said.

The company's hot metal production was up at 3.4 MT, against 2.7 MT in the same quarter of previous fiscal.

The filing said the company's Kalinganagar plant "crossed 1.5 million tonnes of hot metal and one million tonnes of hot rolled coil production since commissioning in May".