Tata Steel's sales down by 22.8% YOY in Apr-Jun
2020-07-10 13:48:50 [Print]
Tata Steel Ltd. (TSL) on Thursday said its consolidated sales fell 22.8% to 5.28 million tonnes (MT) during the April-June quarter, from consolidated sales of 6.84 MT in the year-earlier period, as the COVID-19 pandemic disrupted operations.
Consolidated production during the quarter also fell 28.5% to 5.52 MT from 7.72 MT in the first quarter of 2019-20, TSL said in a regulatory filing.
In the just concluded quarter, TSL's India sales were at 2.92 MT, down from 3.96 MT in the year-earlier period, while the production volume fell to 2.99 MT from 4.5 MT. Sales in Europe fell to 1.94 MT, from 2.26 MT a year earlier, while output fell to 2.14 MT from 2.65 MT.
TSL said overall in the first quarter of 2020-21, production and sales volumes were lower as the outbreak of COVID-19 and ensuing mobility restrictions impacted industrial activity and consumer sentiment across all geographies.
Consolidated production during the quarter also fell 28.5% to 5.52 MT from 7.72 MT in the first quarter of 2019-20, TSL said in a regulatory filing.
In the just concluded quarter, TSL's India sales were at 2.92 MT, down from 3.96 MT in the year-earlier period, while the production volume fell to 2.99 MT from 4.5 MT. Sales in Europe fell to 1.94 MT, from 2.26 MT a year earlier, while output fell to 2.14 MT from 2.65 MT.
TSL said overall in the first quarter of 2020-21, production and sales volumes were lower as the outbreak of COVID-19 and ensuing mobility restrictions impacted industrial activity and consumer sentiment across all geographies.
