Tata Steel’s crude steel production was up by 55% year-on-year during the first quarter of FY 22 to 4.62 million tonnes, as against 2.99 million tonnes reported during the same quarter last year. During the quarter, crude steel production decreased 2.6% QoQ due to supply of over 47,800 tons of liquid medical oxygen to hospitals amidst the 2nd wave of COVID-19 pandemic.
Steel deliveries declined 11% QoQ due to partial lockdowns announced by some of states and temporary shutdowns in few steel consuming sectors amidst the 2nd wave of COVID-19 pandemic. To offset the impact, exports were increased to 16% of the total sales against 11% in Q4FY21. The domestic market has been improving since mid-Jun’21 with easing lockdowns.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
