Tata Steel has reported a 27% increase in Q3FY17 sales to 2.9 million tonne (MT) compared to 2.3 MT in Q3 FY16. On a sequential basis, the company saw sales jump 14% in the third quarter this year over Q2FY17 due to ramp up in capacity at Kalinganagar. The company’s quarterly sales performance was boosted by a 20% increase (year on year) in auto grade steel, a 13% rise in branded products sales and a 37% jump in value added products.
The company has posted a 13% rise in sales in April-December 2016 to 7.7 MT up from 6.8 MT in the same period in 2015 led by a surge in automotive steels and branded products in its portfolio and contribution from its new greenfield steel plant at Kalinganagar in Odisha.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.