India’s leading merchant pig iron and steel ductile pipe manufacturer Tata Steel’s Tata Metaliks has reported a net profit of INR 9.5 crore for October-December 2022 quarter, a decline of 74% YoY, despite revenues increasing by 15% YoY of INR 790.2, mainly by higher deliveries and better realization of DI Pipe, as operational performance was affected by the weak health of one of the blast furnaces which had to be stopped frequently for repairs.However, the new ductile iron pipe plant production was ramped up, producing 25,000 tonnes of finished pipes, up from 13,000 tonnes in the Jul-Sep’22 quarter Tata Metaliks Managing Director Mr Alok Krishna said “Domestic demand of Pig Iron is expected to firm up in Q4 as utilization levels in several segments like General Castings and Agriculture are likely to improve. Imported coal price is expected to remain range bound with possibility of marginal uptick in Q4 as indicated by trend of Coal futures. Demand outlook for DI Pipes for Q4 is robust in line with the Govt's increased outlay through Jal Jeevan Mission for providing drinking water to the population. Q4 is traditionally the best period for DI pipe in terms of project execution on ground and the Company is geared up to meet the high demand through additional volumes from the new DI Pipe plant.”
India’s leading merchant pig iron and steel ductile pipe manufacturer Tata Steel’s Tata Metaliks has reported a net profit of INR 9.5 crore for October-December 2022 quarter, a decline of 74% YoY, despite revenues increasing by 15% YoY of INR 790.2, mainly by higher deliveries and better realization of DI Pipe, as operational performance was affected by the weak health of one of the blast furnaces which had to be stopped frequently for repairs.However, the new ductile iron pipe plant production was ramped up, producing 25,000 tonnes of finished pipes, up from 13,000 tonnes in the Jul-Sep’22 quarter Tata Metaliks Managing Director Mr Alok Krishna said “Domestic demand of Pig Iron is expected to firm up in Q4 as utilization levels in several segments like General Castings and Agriculture are likely to improve. Imported coal price is expected to remain range bound with possibility of marginal uptick in Q4 as indicated by trend of Coal futures. Demand outlook for DI Pipes for Q4 is robust in line with the Govt's increased outlay through Jal Jeevan Mission for providing drinking water to the population. Q4 is traditionally the best period for DI pipe in terms of project execution on ground and the Company is geared up to meet the high demand through additional volumes from the new DI Pipe plant.”
