Posted on 14 Feb 2023
Sajjan Jindal-led JSW Steel on Monday reported a 15% year-on-year (YoY) rise in its crude steel production at 18.91 lakh tone in January.
The company’s crude steel production was at 16.46 lakh tonne (LT) in January 2022, the company said in a statement.
“JSW Steel reported highest-ever standalone crude steel production for the month of January, 2023 at 18.91 lakh tonne, a growth of 15% y-o-y on standalone basis,” JSW Steel said in a regulatory filing.
According to the company, the production of its flat-rolled products increased by 14% to 14.24 lakh tonne over 12.47 lakh tonne in January 2022.
Its output of long-rolled products also registered a growth of 14% to 4.25 lakh tonne as against 3.74 lakh tonne in January 2022. The overall capacity utilisation was higher at 99% in January 2023 from 96% in December 2022, it added.
In its quarterly report, the company reported a 88% decline in consolidated net profit for the December quarter profit at ₹490 crore, hurt by lower exports. It was ₹4,357 crore in the year-ago period.
The steelmaker reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹4,030 crore during the quarter under review, with a margin of 13%.
JSW Steel is the largest steel manufacturer in terms of capacity and one of the lowest cost steel producers in the world. It is the flagship business of the $22-billion diversified JSW Group, which has its presence in sectors such as energy, infrastructure, cement, paints, sports and venture capital.
Source:Reuters
