JSW's crude steel output up by 13% in March quarter

11 Apr 2023 , 09:33 AM

JSW Steel has reported a 13% increase in its consolidated crude steel production to 6.58 million tonnes (MT) during the fourth quarter of FY23. In the same period last year, the company had produced 5.81 MT of crude steel through its operations in India and the US.  it has registered a 7% growth on a Q-o-Q basis.

The company’s combined crude steel production for this period was 6.58 million tonnes (MT), with 6.37 MT coming from its operations in India and 0.21 MT from JSW Steel USA – Ohio.

JSW Steel’s crude steel production for the entire fiscal year of 2022-23 was 24.15 MT, indicating a growth of 24% from FY22, during which the production was 19.51 MT.

According to JSW Steel, the combined crude steel production in FY23 was the highest ever recorded.

JSW Steel accomplished a consolidated production of 24.57 million tonnes, which translates to a 98% achievement of its target of 25 million tonnes.

JSW Steel stated that although it successfully met its target for consolidated Indian operations, the production output of JISPL (JSW Ispat Special Products Ltd) and JSW Steel USA – Ohio were adversely affected due to temporary shutdowns and unfavorable market conditions during certain periods of the year.

At around 9.35 AM, JSW Steel was trading 0.60% higher at Rs 692.65, against the previous close of Rs 688.50 on NSE.

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