Tata Steel, one of the largest global steel manufacturers, released information regarding its October-December quarter results on January 15, 2021, announcing that its total output from India operations had increased from 4.47 MT (million tonnes) to 4.60 MT by 3%.
Its output from the Europe operation furthermore grew 4% from 2.51 MT to 2.61 MT during the same quarter.
Although the output showed considerable growth, its sales from India operations dropped down 4% from 4.85 MT to 4.66 MT, and the Europe operation sales also stalled to 2.11 MT from 2.35 MT by a considerable 10%.
In a statement, the company told that as a result of a rise in overall demand, approval of its new products, and a growth in the share of business from its prevailing customers allowed its deliveries in the automotive and special products’ segment to rise by 48%.
Not quite presenting the deliveries in industrial products and projects’ segment, the statement maintained that Tata Steel was continuing to “focus on product mix enrichment by catering in sub-segments such as oil and gas, lifting and excavation and pre-engineered buildings.”
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