JSW Steel rose 1.22% to Rs 674.10 after the company reported group combined crude steel production at 5.07 million tonnes for Q2 FY22, up by 29% from 3.92 million tonnes recorded in Q2 FY21.
On a sequential basis, the growth in crude steel production has, however, remained flat.
The crude steel production includes the production at jointly controlled entities viz. Bhushan Power & Steel (BPSL) and JSW Ispat Special Products (JISPL).
JSW Steel said that the capacity utilization at standalone level was at 91% in Q2 FY22. During Q2 FY22, Vijayanagar works has taken planned shutdown for campaign repairs of two of its convertors and Salem works has taken annual shutdown of one of its blast furnaces, due to which the capacity utilisation remained at an average of 91% in this quarter.
JISPL production for Q2 FY22 was lower mainly due to shutdown of power plant for maintenance and consequent impact on production at Raipur and shutdown of blast furnace for three days for maintenance & stabilisation of slab caster at Raigarh.
The company recorded crude steel production growth of 21% YoY on standalone basis and 45% YoY at steel group level in H1 FY22. The company's standalone steel production was 8.20 million tonnes and 10.14 million tonnes at steel group level in the first half of the financial year 2021-22.
JSW Steel is India's leading integrated steel company with a steel-making capacity of 28 million tonnes per annum (MTPA) in India & USA, including capacities under joint control & new capacity to be commissioned at Dolvi during this year.
The steel major's consolidated net profit stood at Rs 5,900 crore in Q1 June 2021 compared with net loss of Rs 582 crore in Q1 June 2020. Net sales soared 148.2% to Rs 28,432 crore in Q1 FY22 as against Rs 11,454 crore in Q1 FY21.
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