India: Tata Steel’s production flat, sales down 21% q-o-q in Q1FY23

Tata Steel’s crude steel production remained largely stable q-o-q at 4.92 mnt while steel sales fell by 21% q-o-q to 4.06 mnt in Q1FY23. On a yearly basis, production rose 6% from 4.63 mnt in Q1FY22. Meanwhile sales dropped marginally by 2% y-o-y due to imposition of 15% export duty.