Crude steel production rises 11% in November: JSW Steel

JSW Steel’s crude steel production rose 11 per cent annually to 22.04 lakh tonnes as against 19.94 lakh tonnes during the same month last year. 

The domestic production levels rose by 7 per cent from 19.70 lakh tonnes to 21.14 lakh tonnes, while the production volume from the steel major's Ohio unit stood at 0.90 lakh tonnes, compared to 0.24 lakh tonnes, registering a growth of  268 per cent, said the steel major. 

The India’s production volume includes the crude steel production of JISPL and its subsidiary, Mivaan Steels Ltd. The capacity utilisation at Indian operations level stood at 90 per cent for November this year, it said. 

JSW Steel is the flagship business of the diversified, $23 billion JSW Group.

The Sajjan Jindal owned firm had reported a consolidated net profit of Rs 2,773 crore for quarter ending September in the current fiscal year. In the previous year, the steel producer posted loss of Rs 915 crore in same period last year.

The company's total income in second quarter came in at Rs 44,821 crore compared to Rs 41,966 crore, in the corresponding period last year. 

The company plans to take its total capacity to 38.5 MTPA by FY25 in India.

As of 1:15 pm, JSW Steel shares traded 0.08 per cent higher at Rs 840.