Tata Steel imports steel supplies

Tata Steel imports steel supplies

World May 16, 2017 16:00

- Tata Steel, the Indian owner of the former Hoogovens in IJmuiden, delivered more steel in the last quarter and, thanks to higher steel prices, also achieved significantly more sales. Profitability also went ahead.

Tata Steel increased its production to 6.83 million tons, from 6.32 million tons a year earlier. Revenues increased by around 30 percent to almost 5 billion euros (353 billion Rupees).

Adjusted for one-off items and the disposal of business activities, it generated a gain of 473 million euros, a loss of last year last year.

Under the line, Tata Steel still recovered EUR 165 million, with a net loss of 429 million euros in the same quarter last year.

The fact that Tata has again suffered a net loss is mainly due to a one-off pension defender in the United Kingdom.

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