JSW Steel Group's Q2FY23 crude steel production jumps 12% y-o-y at 5.68 million tonnes

10 Oct 2022 , 12:22 PM

JSW Steel reported 5.68 million tonnes of total crude steel output for Q2FY23, a 12% increase y-o-y, including production at jointly operated enterprises.

The company stated that the crude steel output for Q2FY23 was 3% lower sequentially. This decrease in output was mostly due to lengthy maintenance shutdowns at JISPL, weak market conditions in the United States, and decreased capacity utilisation in other sites in India due to supply and logistics challenges in obtaining iron ore, as well as a severe dip in export volumes.

On a consolidated basis, JSW Steel Indian operations logged 5.60 million tonnes of crude steel production in Q2FY23, down by 2% QoQ against 5.72 million tonnes in the previous quarter. Whereas, it jumped by 14% on a y-o-y basis against 4.92 million tonnes in Q2FY22.

For H1FY23, crude steel production jumped by 14% on a yoy basis at 11.56 million tonnes against 10.14 million tonnes in H1FY22.

At around 12.25 PM, JSW Steel was trading at Rs658.05 down by 1.22% from its previous closing of Rs666.20 on the BSE. The scrip touched intraday high and low of Rs662.80 and Rs655 respectively.

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