NEW DELHI: Tata Metal on Wednesday posted a consolidated web revenue of Rs 522.14 crore within the December quarter as robust home demand offset weak spot in Europe. The corporate had posted a web lack of Rs 2,501.95 crore within the year-ago interval, the corporate mentioned in a regulatory submitting.
The corporate’s consolidated revenue dropped to Rs 55,539.77 crore from Rs 57,354.16 crore within the year-ago quarter, it mentioned.
Tata Metal had reported a consolidated web lack of Rs 6,511.16 crore within the September quarter.
“The worldwide working setting has been advanced, with financial slowdown in China and geopolitics weighing on commodity costs on the whole,” Tata Metal Chief Government Officer and Managing Director T V Narendran mentioned.
“Through the quarter, China has exported 7-8 million tonnes of metal each month — the best since 2015, and this has adversely impacted world metal costs in addition to profitability.
“Regardless of this context, Tata Metal India has delivered higher margins aided by greater deliveries in addition to realisations on a quarter-on-quarter foundation,” Narendran mentioned.
The phased commissioning of the corporate’s 5 Million Tonnes Per Annum (MTPA) capability growth at Kalinganagar plant is underway, he mentioned.
“Transferring to Europe, our deliveries within the Netherlands have been up, whereas the UK moved decrease quarter-on-quarter resulting from subdued demand in addition to operational points, given the ageing belongings. We are going to begin statutory consultations with the unions within the UK as a step in direction of our transition to an EAF-based sustainable enterprise,” he mentioned.
The corporate mentioned its web debt stood at Rs 77,405 crore.
The group’s liquidity stays robust at Rs 23,349 crore, together with money and money equivalents of Rs 10,825 crore, it mentioned.
In line with Tata Metal’s Government Director and Chief Monetary Officer Koushik Chatterjee, the corporate’s UK enterprise continues to face manufacturing shortfalls arising from the end-of-life situation of a number of heavy-end belongings.
On Tata Metal’s current announcement to shut its two blast furnaces in Britain by the top of the 12 months, Chatterjee mentioned the corporate’s evaluation reveals that partial continuity of blast furnaces till completion of transition to the electrical arc furnace isn’t reasonably priced and engineering research have discovered that constructing the EAF in an already working metal soften store isn’t possible.
Tata Metal, he mentioned, is conscious of the impression of its proposal to wind down the heavy finish in Port Talbot on people and the local people related to its metal works, the corporate will meaningfully seek the advice of its staff and work to offer them with a good, dignified and thoughtful final result.
Tata Metal group is among the many prime world metal corporations with an annual crude metal capability of 35 MTPA. It’s a geographically diversified metal producers, with operations and industrial presence the world over.
The corporate’s consolidated revenue dropped to Rs 55,539.77 crore from Rs 57,354.16 crore within the year-ago quarter, it mentioned.
Tata Metal had reported a consolidated web lack of Rs 6,511.16 crore within the September quarter.
“The worldwide working setting has been advanced, with financial slowdown in China and geopolitics weighing on commodity costs on the whole,” Tata Metal Chief Government Officer and Managing Director T V Narendran mentioned.
“Through the quarter, China has exported 7-8 million tonnes of metal each month — the best since 2015, and this has adversely impacted world metal costs in addition to profitability.
“Regardless of this context, Tata Metal India has delivered higher margins aided by greater deliveries in addition to realisations on a quarter-on-quarter foundation,” Narendran mentioned.
The phased commissioning of the corporate’s 5 Million Tonnes Per Annum (MTPA) capability growth at Kalinganagar plant is underway, he mentioned.
“Transferring to Europe, our deliveries within the Netherlands have been up, whereas the UK moved decrease quarter-on-quarter resulting from subdued demand in addition to operational points, given the ageing belongings. We are going to begin statutory consultations with the unions within the UK as a step in direction of our transition to an EAF-based sustainable enterprise,” he mentioned.
The corporate mentioned its web debt stood at Rs 77,405 crore.
The group’s liquidity stays robust at Rs 23,349 crore, together with money and money equivalents of Rs 10,825 crore, it mentioned.
In line with Tata Metal’s Government Director and Chief Monetary Officer Koushik Chatterjee, the corporate’s UK enterprise continues to face manufacturing shortfalls arising from the end-of-life situation of a number of heavy-end belongings.
On Tata Metal’s current announcement to shut its two blast furnaces in Britain by the top of the 12 months, Chatterjee mentioned the corporate’s evaluation reveals that partial continuity of blast furnaces till completion of transition to the electrical arc furnace isn’t reasonably priced and engineering research have discovered that constructing the EAF in an already working metal soften store isn’t possible.
Tata Metal, he mentioned, is conscious of the impression of its proposal to wind down the heavy finish in Port Talbot on people and the local people related to its metal works, the corporate will meaningfully seek the advice of its staff and work to offer them with a good, dignified and thoughtful final result.
Tata Metal group is among the many prime world metal corporations with an annual crude metal capability of 35 MTPA. It’s a geographically diversified metal producers, with operations and industrial presence the world over.
