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Indian private-sector producer Tata Steel's sales rose by 7.2pc on the year in July-September, despite monsoon-led seasonal weakness.
The company's deliveries stood at 4.91mn t during the quarter, while production rose by 1.7pc on the year to 4.81mn t due to a planned maintenance shutdown, according to provisional data from the company.
Tata's domestic deliveries stood at 4.37mn t, while 540,000t accounted for exports in July-September. Indian mills' steel exports have been limited because of a 15pc export tax imposed in late May.
Deliveries for automotive and special products rose by about 3pc on the year during the quarter, and deliveries of industrial products and projects rose by 15pc against the previous year. Deliveries for branded products and the company's retail segment increased by 19pc on the year.
Tata subsidiary Tata Steel Long Products's direct reduced iron (DRI) output rose by 2.5pc on the year to 203,000t in July-September, while its crude steel production dropped by 8pc on the year to 161,000t due to a maintenance shutdown.
The firm's DRI sales rose by 10pc on the year to 153,000t, while its saleable steel sales fell by 6.5pc to 157,000t.
Tata Steel merged Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, Indian Steel & Wire Products, Tata Steel Mining, S&T Mining Company and TRF with itself last month to increase operational efficiency and reduce costs.
The steelmaker restarted the blast furnace at its 1mn t/yr Neelachal Ispat Nigam (NINL) at Kalinganagar in Odisha state earlier this month.
argusmedia
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