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Tata Steel India's output up 4.7%, sales down 4.2% YOY in fiscal Q2'20

Tata Steel Ltd.'s Indian operations produced 4.50 million tons of steel in the second quarter of its fiscal 2020, increasing 4.7% year over year from 4.30 Mt, according to provisional figures released Oct. 10.

Sales decreased 4.2% year over year to 4.14 Mt in the three months that ended Sept. 30, from 4.32 Mt the year before. Tata Steel attributed low demand to an economic slowdown and prolonged trade uncertainty as well as the impact of the rainy season. The company said it expects steel consumption to increase as the monsoon season ends and festivals start.

In the first half of its fiscal year, steel production from Tata Steel's Indian operations increased to 9.00 Mt from 7.95 Mt, and sales climbed to 8.10 Mt from 7.66 Mt. Tata Steel India includes Tata Steel Standalone, Tata Steel BSL Ltd. and Tata Steel Long Products Ltd.

Tata Steel Europe Ltd. produced 2.46 Mt and sold 2.28 Mt of steel during the quarter, both increasing slightly year over year, while first-half output slipped to 5.11 Mt from 5.24 Mt and sales dropped to 4.54 Mt from 4.72 Mt.

Quarterly steel output at Tata Steel's Southeast-Asian operations climbed to 570,000 tons, from 540,000 tons the year before, while sales fell to 610,000 tonnes from 650,000 tonnes. For the first half of the company's fiscal year, output rose to 1.15 Mt from 1.06 Mt, and sales decreased to 1.23 Mt from 1.24 Mt.