Tata Steel Branded Steel Sales Increase by 1.4%

Tata Steel yesterday has reported Q2 FY16 results with increase in overall sales by 9%.

Tata Steel has reported Q2 FY16 results yesterday and showcased increase in sales by 9% with strong contribution of industrial product. In addition, project and export sales have surged by 20%, branded by 1.4% and automotive product by 9% Q-o-Q.

The company has reported strong growth in production and deliveries during the quarter. The growth is witnessed despite subdued manufacturing activity, downturn in global commodity prices and strong imports from China and other FTA countries like Japan and Korea. Deliveries have increased to 2.33 MnT on the backdrop of strong sales to auto sector and a higher proportion of value added products, said TV Narendran, Managing Director of Tata Steel in India and South East Asia.

“Underlying operating performance of Tata Steel Group in Q2 FY16 has been affected by weak economic environment, relative currency movements and a surge in imports in key geographies such as the UK, India and Europe“, Koushik Chatterjee, Group Executive Director (Finance & Corporate) says in its statement.

Tata Steel Sales in Q2 FY16

Figures in ‘000 MT
Branded products are rebar, wire rod and flat steel