Tata Steel posts 3.5% rise in sales in Q3 earnings

KOLKATA: Tata Steel posted a 3.5% rise in sales to 2.12 million tonne (mt) during the third quarter of FY’15 against 2.06 mt in the same period last year, even as production of saleable steel went up 3.3% to 2.22 mt during October-December 2014.

The company’s hot metal and crude steel production also went up by 2.8% and 5.6% respectively in Q3FY’15 to 2.38 mt and 2.29 mt respectively over the previous corresponding period.

In automotive steels, Tata Steel reported its best-ever Q3 sales of 0.34 mt in the third quarter, compared to its previous best of 0.28 mt reported in Q3 FY’14.

Tata Steel also said its pellet plant achieved a Q3 production of 1.03 mt against its previous best of 0.92 mt in Q3 FY’14.