Tata Steel’s sales fall 22% to 5.28 MT in April-June 2020

Tata Steel (TSL) has reported its consolidated sales fell 22.8 percent to 5.28 million tonnes (MT) during April-June quarter 2020 as compared to consolidated sales of 6.84MT in the year-ago period, as the COVID-19 pandemic disrupted operations. The consolidated production during the quarter also fell 28.49 percent to 5.52MT from 7.72MT in the first quarter of 2019-20.

In the concluded quarter, TSL's India sales were at 2.92MT, down from 3.96MT in the year-ago period, while the production volume fell to 2.99MT from 4.5MT. The company's sales in Europe fell to 1.94MT from 2.26MT in the year-ago period, while production fell to 2.14MT from 2.65MT. Tata Steel South East Asia registered sales of 0.42MT compared to 0.62MT in first quarter of 2019-20, while the output was at 0.39MT, as against 0.57MT in the same quarter a year ago.

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.