New Delhi: JSW Steel today reported 27 percent growth in production for the April-June quarter to 2.14 million tonnes (MT) over the same quarter a year ago.
The Mumbai-based company had produced about 1.7 MT of crude steel in the same quarter of the last fiscal.
Increasing production. Reuters
Besides, its flat product output grew by 36 percent to 1.61 MT and long product by 27 percent to 0.44 MT during the quarter over the Q1 of last fiscal, JSW Steel said in a statement.
Flat products are used for consumer durables and fast moving consumer goods sector, while long products are meant for the construction sector.
“Vijayanagar works could operate at 80 percent capacity utilisation during the first quarter due to constraints in availability and quality of iron ore in e-auction in Karnataka,” it added.
The company operates a 10 million tonnes (MT) steel plant at Karnataka’s Vijaynagar and a 1 MT capacity at Salem in Tamil Nadu.
For the current fiscal, the Sajjan Jindal-led company has kept a target of producing 8.75 MT of crude steel, while its production in the last fiscal was 7.43 MT.
Shares of the company closed today at Rs 712.95 apiece on the BSE, up 0.05 percent from the previous close.
PTI
