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Steel consumption is up 13-14 per cent domestically
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Divergent cyclical trends in steel markets were evident in the results for Tata Steel for the January-March quarter of the 2022-23 financial year (Q4FY23). The standalone results, which are India-focussed, display rise in margins and earnings before interest, tax, depreciation and amortisation (Ebitda), per tonne while the consolidated results, which include the European (and UK) trends, show decline in margins and operating losses.
At consolidated level, sales volume for Q4FY23 stood at 7.78 MT or million tonnes (down 3 per cent year-on-year or YoY but up 9 per cent quarter-on-quarter or QoQ). Averaged sales prices were down 6 per cent YoY and almost flat QoQ. Revenue was at Rs 63,000 crore (down 9 per cent YoY and up 10 per cent QoQ). Volumes were higher in both India and Europe.
Consolidated Ebitda stood at Rs 7,200 crore (down 52 per cent YoY and up 78 per cent QoQ), while average Ebitda per tonne of Rs 9,279 was down 51 per cent YoY and up
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