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Steel Mint

Tata Steel Exports Rise, Sales Drop in Q1 FY22

19, Aug 2021
Tata Steel, one of India's leading steel manufacturers, reported a sharp increase in its export sales in the first quarter (Q1 FY22) over sluggish demand in the domestic market. Export volumes stood at 0.65 mn t in the quarter as against 0.51 mn t in the last quarter (Q4 FY21).

However, a year ago, the company exported around 1.47 mn t due to region-wise phased lockdowns. The company reported a decline in sales volumes by 11% in Q1 to 4.15 mn t in comparison to 4.67 mn t a quarter ago. The decline exhibits a huge impact of Covid-19's second wave along with weak demand due to seasonal lull in the domestic market.

Tata Steel achieved its highest-ever standalone EBITDA of INR 10,274 crore in Q1 FY22, up 12% against INR 9,206 crore in Q4 FY21. On an annualised basis, the EBITDA reported a sharp growth against INR 1,291 crore in Q1 FY21.