Online BusinessTata Steel Q3 sales soar 49% on robust demand
Tata Steel today said its sales for the October-December quarter surged 49 per cent to 1.5 million tonnes, driven by robust demand from sectors like automobiles and consumer durables.
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The company sold 1.07 million tonnes steel in the third quarter of the last financial year, it said in a statement.
In December alone, the country"s leading steel maker, saw its sales rising by 73 per cent to 6.35 lakh tonnes over the year-ago month.
The production of saleable steel surged 37 per cent in the third quarter to 1.6 million tonnes as compared to 1.23 million tonnes in the corresponding period last fiscal.
Tata Steel"s crude steel output increased 15 per cent in October-December to 1.72 million tonnes and that of hot metal rose 11 per cent to 1.88 million tonnes over that of the corresponding period a year ago.
"December sales surpassed the mark of 6 lakh tonnes monthly curde steel production for the first time," said the company, adding "Tata Steel completed December by registering remarkable increase in its hot metal, crude steel and saleable steel production over the corresponding month of the last year."