New Delhi: Tata Steel Tuesday said its sales volume surged by 22% to 1.4 million tonnes in the first quarter of the current fiscal on the back of robust demand from the auto and construction sectors.
In the corresponding period last year, the steel major’s sales stood at 1.1 million tonnes, Tata Steel said in a statement here.
In June alone, the steel maker saw its sales going up by 19% to 4.97 lakh tonnes over the year-ago period.
The sale of long products, mainly used in construction, increased by 30% in June while that of flat items, used by the auto and consumer durable sectors, increased by 12%, over the year-ago period.
During the quarter under review, Tata Steel saw its saleable steel production surging by 30% to 1.5 million tonnes as against 1.1 million tonnes last year. For June, the company’s saleable steel production was up by 38% to 5.26 lakh tonnes over the same period a year ago.
Tata Steel’s crude steel output for the first quarter of the fiscal surged by 20% to 1.5 million tonnes over the year-ago period. The company produced 1.2 million tonnes of crude steel in the first quarter of the previous fiscal.
The company said its hot metal production surged 21% in the April-June quarter to 1.6 million tonnes. Tata Steel produced 1.3 million tonnes of hot metal in the same period last year.