Export levy impact: Tata Steel deliveries drop 2% YoY despite higher output

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model

Tata Steel India recorded a two per cent year-on-year drop in overall deliveries due to a levy on steel exports by the government in May.

Tata Steel, which announced provisional production and delivery numbers for Q1FY23, clocked a growth of six per cent in domestic production at 4.92 million tonnes (mt), but deliveries to destinations within and outside India, at 4.06 mt, were lower by two per cent.

The firm attributed the drop to moderation in exports following the imposition of 15 per cent export duty.

The market had foreseen lower deliveries by steel companies as an outcome of the