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[Ferro-Alloys.com] Steelmaker JSW Steel’s crude steel production was up 2% year-on-year at 14.32 lakh tonnes for the month of January 2021 as against 14.10 lakh tonnes in January 2020.
The company's average capacity utilisation was 96% during the month of January 2021.
The production of flat rolled products declined 1% to 10.14 lakh tonnes while production of long rolled products rose 5% to 3.59 lakh tonnes in January 2021, showing a pick up in infrastructure and construction demand.
The company while announcing the December quarter results said the crude steel production fell from 12.09 million tonnes for the 9 months of FY 20 to 10.89 million tonnes during the same period in F 21.
The company’s steel sales too fell by 5% for the 9 month period to 10.82 million tonnes.
JSW Steel recorded a 13 times growth in consolidated net profit for the third fiscal quarter compared to a year earlier on the back of better demand and restocking from automotive, machinery, construction and infrastructure sectors aided by increased government spending, the company said.
The steelmaker posted a net profit of Rs 2,669 crore for the December quarter, compared with Rs 187 crore a year earlier. In the September quarter of FY 21, it had reported a 37% fall in net profit at Rs 1,595 crore.
Source: economictimes.indiatimes.com
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