The Mumbai-based steel making company said that the Group's combined crude steel production for Q2 FY23 was 5.68 million tonnes, registering a growth of 12% YoY.
JSW Steel had recorded crude steel production of 5.07million tonnes in Q2 FY22.The crude steel production was lower sequentially by 3%, due to extended maintenance shutdowns in JISPL, subdued market conditions in USA and lower capacity utilisation in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes, the steel maker said.
During the previous quarter, JSW Steel's Indian operations grew 36% YoY to 5.57 million tonnes in crude steel production.
JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company with a steel-making capacity of 28 MTPA in India & USA, including capacities under joint control & new capacity to be commissioned at Dolvi during this year.
The company's consolidated net profit slumped 85.81% to Rs 838 crore in Q1 FY23 as against Rs 5,904 crore recorded in Q1 FY22. Revenue from operations surged 31.78% to Rs 38,086 crore in Q1 FY23 compared with Rs 28,902 crore in the same quarter last year.
The scrip declined 1.25% to currently trade at Rs 657.90 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
