Tata Steel recorded its highest-ever quarterly crude steel production in India in the December quarter, driven by higher output at its Jamshedpur and Kalinganagar plants. Crude steel production rose 12% year-on-year to 6.34 million tonnes, while deliveries increased 14% to a record 6.04 million tonnes.
The strong operational performance comes amid pressure on domestic steel prices due to the influx of cheap imports. Analysts at Axis Securities expect Tata Steel’s third-quarter core earnings to grow 46% year-on-year, supported by higher volumes. The company had reported improved profitability in the previous quarter, driven by steady demand in key markets.
