Tata Steel Q4 Update: 3% growth in output; 3.43% decline in revenue

Tata Steel reported that during the January-March quarter, its consolidated steel production increased by about 3% to 7.77 million tonne. The company's overall steel output in the prior quarter was 7.55 MT. Total sales for Tata Steel were 7.59 MT, a decrease of 3.43 % from 7.86 MT during the same period in 2021–2022. Production at Tata Steel India climbed to 5.15 MT in the aforementioned quarter from 4.90 MT in January-March 2021–2022. Sales increased slightly from 5.12 MT to 5.15 MT from the previous year. During the final quarter of the previous fiscal year, the output of Tata Steel Europe remained constant at 2.31 MT. 2.13 MT were sold, a decrease from 2.40 MT in the same period last year. Tata Steel Thailand's production decreased slightly from 0.34 MT a year ago to 0.31 MT. Sales in Thailand decreased from 0.34 MT to 0.31 MT from the previous fiscal. The company's production during the 2022–2023 fiscal year was essentially the same at 30.45 MT. In comparison to 2021–2022, when sales were 28.62 MT, they were somewhat lower in 2022–2023 at 28.2 MT. Also read: UltraTech’s sales volume jump 12% in FY23 Internal accruals to fund Adani cement expansion