Tata Steel Long Products DRI output falls 4 pc; steel production grows 11 pc in Q1

Tata Steel Long Products Limited (TSLP), a subsidiary of Tata Steel, on Tuesday posted around 4 per cent fall in its direct reduced iron (DRI) output to 2.34 lakh tonne (LT) during the April-June quarter of the current financial year.

The company produced 2.43 LT of DRI in the same quarter of the previous fiscal, TSLP said in a regulatory filing.

Its DRI sales during the said period also fell around 13 per cent to 1.56 LT from 1.79 LT in the year-ago quarter.

''DRI production was marginally lower on year-on-year (y-o-y) basis due to preponement of planned shutdown. DRI sales volumes were lower on YoY basis due to higher captive consumption,'' it said.

During the April-June 2022, the company produced 1.91 LT crude steel, up 11 per cent from 1.72 LT in the same period a year ago.

The company sold 1.74 LT steel against 1.62 LT in the corresponding period of the last financial year.

''Steel sales volumes increased by 7 per cent y-o-y and 10 per cent q-o-q despite volatile operating environment,'' the company said.

Tata Steel Long Products Limited is one of India's largest integrated special steel and merchant direct reduced iron (sponge iron) players.

Tata Steel on Monday completed the acquisition of Odisha-based one million tonne per annum (MTPA) steel mill NINL through TSLP for a consideration amount of Rs 12,000 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)