Tata Steel reported that its sales during the September quarter were up seven per cent to 4.91 million tonnes (mt) against 4.58 mt logged in the same period last year. Sales in Europe were down 13 per cent at 1.88 mt (2.14 mt) year-on-year (YoY) and production was down 2.40 mt (2.56 mt).
Production in the quarter under review was up two per cent at 4.81 mt compared to last year, but down two per cent compared to 4.92 mt logged in the June quarter due to a planned maintenance shutdown. The company has managed to reduce inventory by increasing sales and cutting down on production.
Sales to the automotive and special products segment were up 3 per cent on the back of recovery across sub-segments including passenger vehicles and two wheelers, the company said in a statement.
Branded and retail segment sales increased 19 per cent YoY with Tata Tiscon and Tata Astrum registering its best ever quarterly sales enabled by expanded reach.
Industrial products and projects segment deliveries increased by 15 per cent primarily driven by an increase in value-added products to targeted segments like Infrastructure, Oil & Gas, Construction.
Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, grew 60 per cent to ₹540 crore.