Tata Steel Q4 production up 24 pc at 3 MT

Tata Steel today reported a 24 per cent growth in saleable steel production at 3.1 million tonnes (MT) for the fourth quarter of FY 2016-17.

The company had produced 2.5 MT of saleable steel in the same quarter of the preceding fiscal, Tata Steel said in a BSE filing.

The company's crude steel production during the January-March quarter of 2016-17 also grew to 3.2 MT from 2.5 MT in the year-ago period, it said.

Tata Steel's sales too grew to 3.1 MT, as against 2.7 MT a year ago. The company's hot metal production was up at 3.5 MT, as compared to 2.7 MT in the same quarter of the 2015-16 fiscal.

According to the filing, the company's "blast furnaces at its Jamshedpur plant achieved best-ever hot metal fiscal 2016-17 production of 10.83 million tonnes (previous best was 10.66 million tonnes in 2015-16).