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Tata Steel notches production records for FY'16

Tata Steel Ltd.has witnessed its highest production numbers yet in the 2016 financial year endedMarch following a year-over-year increase in output in the final quarter.

The Indian steelmaker said April 8 that hot metal productionrose to 10.7 million tonnes in fiscal 2016 from 10.1 million tonnes in the prioryear, while crude steel climbed to around 10.0 million tonnes from 9.3 million tonnes.

Full-year salable steel production increased to 9.7 million tonnesfrom 9.1 million tonnes and sales jumped to 9.5 million tonnes from 8.8 milliontonnes.

In the fourth quarter, hot metal output totaled 2.71 milliontonnes, compared to 2.68 million tonnes in the same quarter of fiscal 2015.

Quarterly crude steel production shifted up year over year to2.6 million tonnes from 2.4 million tonnes, salable steel output rose to 2.5 milliontonnes from 2.4 million tonnes, while sales reached 2.7 million tonnes, comparedto 2.4 million tonnes a year earlier.