Tata Steel India FY’12 sales up 3.4%

Tata Steel said its sales from Indian operation grew by 3.4% in FY'12 to 6.631 million tonnes.

Tata Steel today said its sales from Indian operation grew by 3.4 per cent in FY’12 to 6.631 million tonnes over 2010-11,buoyed by a six per cent rise in sales to automotive and Fast Moving Consumer Goods (FMCG) sectors.

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The company,which had sold 6.416 million tonnes steel in 2010-11,undertook sales of 3.735 million tonnes flat products used in the automotive and the FMCG sectors,and 2.897 million tonnes of long products used in construction,it said in a statement.

The growth in sale of flat products was six per cent over 2010-11,but it was almost static in case of long products. It had sold 2.878 million tonnes of long products in FY’11.

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The company sold 1.768 million tonnes of steel in the final quarter of 2011-12,registering a growth of 3.3 per cent over 1.712 million tonnes in the corresponding quarter of last fiscal.

Saleable steel production of the company during 2011-12 grew by 4.2 per cent to 6.970 million tonnes over 6.691 million tonnes a year ago.

Crude steel output rose by 3.9 per cent to 7.126 million tonnes against 6.855 million tonnes in 2010-11.

Saleable steel and crude steel production of the company during the last quarter of the 2011-12 fiscal had grown by 2.2 per cent and 2.6 per cent respectively to 1.777 million tonnes and 1.824 million tonnes.

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Tata Steel shares closed at Rs 459.45 apiece at the BSE,down 3.21 per cent over the previous closing.

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