News from this newspaper On August 12, Tata Steel released a group performance report for the first quarter of the 2021-2022 fiscal year (April 2021 to June 2021). According to the report, in the first quarter of fiscal year 2021-2022, Tata Steel Group’s consolidated EBITDA (earnings before tax, interest, depreciation and amortization) increased by 13.3% month-on-month, a year-on-year increase of 25.7 times, reaching 161.85 billion rupees (1 rupees ≈ 0.01346 US dollars) ; Profit after tax increased by 36.4% month-on-month to 97.68 billion rupees; debt repayment amounted to 589.4 billion rupees.
The report also pointed out that in the first quarter of the 2021-2022 fiscal year, India’s Tata crude steel output was 4.63 million tons, an increase of 54.8% year-on-year, and a decrease of 2.6% from the previous month; steel delivery volume was 4.15 million tons, an increase of 41.7% year-on-year, and a decrease from the previous month. 11%. India’s Tata stated that the month-on-month drop in steel deliveries was mainly due to the temporary suspension of work in a few steel consumer industries during the second wave of the new crown pneumonia epidemic. In order to compensate for the weak domestic demand in India, India’s Tata exports accounted for 16% of total sales in the first quarter of the 2021-2022 fiscal year.
In addition, during the second wave of the COVID-19 pandemic, Tata of India supplied more than 48,000 tons of liquid medical oxygen to local hospitals.