Tata Steel Thailand reports Operating Results for Q3FY25 (October – December 2024)

Bangkok – January 29, 2025 – Tata Steel Thailand declared its quarterly results for the quarter ended December 31, 2024, on January 17, 2025. The Company reported a profit of 295 Mn THB for the October – December 2024 quarter as against a loss of 160 Mn THB for the July – September 2024 quarter and a loss of 96 Mn THB in the October– December 2023 quarter. 

Mr Tarun Daga, President and CEO, Tata Steel (Thailand) Public Company Limited stated that “Sales volume in the quarter under review, was at 277,000 Tons compared to 280,000 Tons of sales volume in the previous quarter. The domestic sales volume was at 208,000 Tons in comparison to 233,000 Tons in the previous quarter reflecting, subdued steel long products demand in the domestic market. This was mitigated by higher export sales of 69,000 Tons in comparison to 47,000 Tons exported in the previous quarter. As compared to the same quarter previous year, the sales volume was higher mainly from higher export sales.”

“Revenue from sales in the current quarter was at 5,676 Mn THB lower than previous quarter reflecting decline in selling price in the backdrop of subdued markets. As compared to the same quarter previous year it was higher by 3% mainly due to higher export sales volume.”

“The initiatives taken by the company in improving conversion efficiencies, also helped in improving profit. The Profit before tax in the current quarter includes a gain of 260 Mn THB from the sale of an unused land plot.”  

Performance Highlights   

The steel market in Thailand experienced strong headwinds with weaker domestic demand and increased competition from imports. Limited growth prospects were observed due to slower than expected recovery in key sectors such as construction, manufacturing, and automotives.