Biznextindia : Sajjan Jindal-led JSW steel has reported 2 per cent (YoY) growth in its January 2021 crude steel production at 1.43 million tonnes (MT) against 1.41 MT in January 2020. The average capacity utilisation was 96% during the month, the company has informed.
The shares of JSW Steel dropped 0.14 per cent at Rs.417 on the BSE at 11 am Tuesday.
During the month, the production of Rolled products (Flat) dropped marginally by 1 per cent (YoY) to 1.01 MT from 1.02 MT. However, the company witnessed a positive growth of 5 per cent in its Long Rolled products output to .35 MT as compared to .34 MT in January 2020, indicating improved demand in the construction sector.
The flat steel products are generally used in the white goods industry, while the long products are mostly used in the construction sector.
Last month, JSW steel had reported 2 per cent growth in crude steel production at 4.08 million tonnes (MT) in the 3rd Quarter FY21 (October-December 2020) as against 4.02 MT in the Q3 of FY20.
However, on sequential basis JSW has reported 6 per cent growth in crude steel production as against 3.85 MT in the 2nd quarter ( July-August 2020).
In the Q3, JSW has reported a net profit of Rs.2829 Crore , a growth of 67 per cent Quarter on Quarter (QoQ).