Mumbai: Tata Steel on Saturday said its India operations posted highest crude steel production at 4.47 million tonnes in the fourth quarter of FY19, growing 46 percent year-on-year.
Sales volume for the quarter increased by 56 percent to 4.73 million tonnes compared with 3.03 million tonnes in Q4FY18 and posted a 22 percent quarter-on-quarter growth.
“India operations achieved the highest ever crude steel production in the fourth quarter of FY19, driven by better plant availability across the locations, including ramp up at Tata Steel BSL,” the company said.
According to provisional data, its Indian operation clocked a 35 percent growth in crude steel production to 16.79 million tonnes against 12.48 million tonnes in FY18, and sales volume soared to 16.27 million tonnes in FY19, up 34 percent over 12.15 million tonnes in FY18.
Automotive and special products sales crossed 2 million tonnes plus in FY19.
In 2018, the steelmaker acquired Bhushan Steel, now renamed Tata Steel BSL Ltd. Currently, Tata Steel’s consolidated India crude steel production capacity stands at 18.6 million tonnes per annum (MnTPA).
Its European sales in Q4 improved too as production grew 17 percent QoQ with better plant availability. “Blast furnace 5 at Port Talbot, which was under shutdown for life extension programme since September 2018, resumed operations in January,” it said.
However, it’s South East Asia operation reported a decline in production in Q4 on the QoQ basis, mainly due to maintenance shutdowns at NatSteel Holdings during the Chinese New Year holidays.
Sales volume was 3.5 percent higher QoQ, reflecting better sales at Tata Steel Thailand with improved rebars market sentiment, it added.
[source_without_link]IANS[/source_without_link]