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Tata Steel posts 23 pct increase in production in quarter 4

Devdiscourse News Desk New Delhi
Updated: 06-04-2019 20:28 IST
Tata Steel posts 23 pct increase in production in quarter 4

Image Credit: Geograph

Tata Steel Saturday said its output rose 23 per cent to 7.70 million tonne (MT) during the last quarter of 2018-19. The company had produced 6.26 MT of steel during the same quarter a year ago, Tata Steel said in a statement.

Its India production stood at 4.47 MT during the January-March 2019 quarter as against 3.07 MT in the year-ago period. "India operations achieved the highest ever crude steel production in 4QFY19 driven by better plant availability across the locations including ramp-up at Tata Steel BSL," it said.

Tata Steel had earlier acquired Bhushan Steel Ltd through an insolvency process and later named it Tata Steel BSL. Tata Steel Europe produced 2.73 MT of steel as compared to 2.63 MT in the fourth quarter of 2017-18.

Tata Steel South East Asia recorded a production of 0.50 MT as against 0.56 MT. Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MTPA).

It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd). Currently, Tata Steel's consolidated India crude steel production capacity stands at 18.6 MTPA.

(With inputs from agencies.)