JSW Steel production moves up 6% in third quarter at 4.08 million tonnes

JSW Steel, an integrated steel manufacturer in India and a flagship company of the JSW Group reported crude steel production of 4.08 million tonnes in the third quarter (October to December) of current fiscal year marking an increase of 6% quarter-on-quarter (QoQ) and 2% year-on-year (YoY).

“The company’s average capacity utilization improved to 91% in Q3 December 2020 from 86% posted in Q2 September 2020,” JSW Steel said in a BSE filing.

While the production of long rolled products moved up 22% to 0.93 million tonnes in Q3 from 0.77 million tonnes in Q2, the production of flat-rolled products jumped 5% to 2.98 million tonnes from 2.84 million tonnes in the same period.

The steel major’s net profit declined 37.77% to Rs 1,593 crore on 9.63% increase in revenue from operations to Rs 19,264 crore in Q2 September 2020 over Q2 September 2019.

JSW Steel is the only Indian company ranked among the top 10 steel producers in the world by World Steel Dynamics for the last 10 consecutive years and a flagship business of 12 billion dollar JSW Group with an installed capacity of 18 million tonnes per year.

At 12.52 pm, JSW Steel shares traded at Rs 409.40 on NSE with a jump of Rs 7.70 or 1.92%.