Tata Steel posts higher domestic sales, production in Q2 FY18

The company has reported sales and production of 2.62 MT and 2.72 MT respectively in same period last year, a company statement said here.

For H1 FY18, the company has registered higher sales of 5.88 MT as compared to 4.77 MT in the same period last year. The production also jumped from 5.06 MT to 5.98 MT in H1 FY 18.

During Q2 FY18 sales registered a volume growth of 12 per cent on QoQ basis and 17 per cent on YoY basis. Hi-end product sales for automotive segment witnessed a growth of 20 per cent on YoY basis.

The company has reported higher sales at 2.60 MT and lower production of 2.60 MT from its European operations in Q2FY18. Deliveries have been higher reflecting stable market conditions and improved finishing processes, it said.

The blast furnaces at Tata Steel's Jamshedpur unit achieved best-ever Q2 production of 2.8 million tonnes in FY18 as against previous best 2.66 million tonnes in Q2 FY16.

Sinter plants achieved best-ever Q2 production of 2.09 million tonnes in FY18 as against its previous best 1.97 million tonnes in Q2 FY16.

The cold rolling mill also achieved record Q2 production of 0.51 million tonnes in FY18 as compared previous record of 0.46 million tonnes in Q2 FY15 at Jamshedpur and highest Q2 production of 0.161 million tonnes in FY18 as compared to previous best 0.116 million tonnes in Q2 FY17 at Bara unit.

The company's merchant mill achieved record Q2 production of 0.118 million tonnes in FY18 as against previous best 0.118 million tonnes in Q2 FY16.

The company said that its Kalinganagar unit commissioned metal recovery plant with hot trials.

The sales and production stood at 0,67 MT and 0.60 MT in Q2 FY 18 from its South East Asia operations. NTS Steel Group of Tata Steel Thailand received 'Prime Minister Industry Award' for safety excellence. NTS Steel and SCSC (Siam Construction & Steel Company) received 'National Safety Award' from Ministry of Labour, Thailand, it said.