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8% Growth of Tata Steel Records in Q1FY19 Sales

July 10, 2018

Tata Steel an 8% growth in Q1FY19 sales led by its highest ever quarterly sales of automotive steels in India. Sales touched 2.97 million tonnes in April-June 2018-19 against 2.75 mt in same period last year. Automotive and Special steels sales jumped to 557 kt in Q1FY19 due to stronger demand and new product approvals, an official statement said. The company said branded products and retail business achieved highest ever Q1 sales of 975 kt, registering a growth of 12% compared to 873 kt in Q1 FY18. Additionally, overall engineering segments registered 70% growth year on year with 97 kt sales in Q1 FY19 against sales of 57 kt sales in Q1 FY18. However, on a sequential basis, sales dropped nearly 2% from 3.03 mt in Q4FY18. On the production front, Tata Steel India Q1 FY19 production is higher than Q4 FY18 mainly due to better plant availability at Kalinganagar. In Europe, Tata Steel sales grew marginally to 2.43 mt in Q1FY19 against 2.4 mt in Q1FY18 while production went up to 2.81 mt in Q1FY19 against 2.79 mt in the previous corresponding period on improved plant availability. On a sequential basis, sales dropped 4.7% from 2.55 mt in Q4FY18. “Deliveries in Q1 FY19 were marginally better than Q1 FY18 in spite of the action under Section 232 by the US which created some uncertainty,” the statement added.

 

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