JSW Steel Reports 6.87 Million Tonnes Crude Steel Production in Q3 FY24

9 Jan 2024 , 03:37 PM

JSW Steel reports consolidated crude steel production of 6.87 million tonnes in Q3 FY24, marking an 8% increase over the previous quarter and a 12% rise over the year.

Capacity utilization at Indian operations reaches 94% during the third quarter, driven by a surge in infrastructure projects boosting metal demand.

In Indian operations, crude steel production witnesses a 9% year-on-year jump to 6.63 million tonnes, with a sequential increase of 7% from 6.20 million tonnes in Q2FY24.

For the USA-Ohio operations, JSW Steel records a remarkable 191% year-on-year increase in crude steel production, reaching 0.24 million tonnes. On a sequential basis, production rises by 76% compared to 0.14 million tonnes in Q2FY24.

Crisil projects India’s steel sector to achieve its third consecutive year of double-digit growth at 11-13% year-on-year in the current fiscal.

JSW Steel, led by Sajjan Jindal, reports a quarterly consolidated total income of Rs 44,821 crore in the September quarter, compared to Rs 41,966 crore a year ago.

In the second quarter, consolidated crude steel production stood at 6.34 million tonnes, showing a 1% quarter-on-quarter decrease but a 12% year-on-year increase.

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