JSW Steel Ltd., the flagship business of the diversified JSW Group, recorded crude steel production of 16.90 lakh tonnes (LT) in November as against 14.60 LT in November 2021, a 16 percent rise in output year-on-year.
During the month, flat rolled products output was up 19 percent at 11.86 LT compared to 9.99 LT in the corresponding month a year ago. Production of long-rolled products went up 5 percent to 3.47 LT during the month from 3.32 LT in the same period last year.
As part of product sustainability initiatives, the roofing sheets portfolio comprising the color-coated range marketed under the brand JSW Colouron+ and JSW Radiance; the Galvalume range marketed under the brands JSW Silveron+, JSW Silveron, and JSW Vishwas+; and the Galvanised range marketed under brand JSW Vishwas are certified for GreenPro - Green Product certification by CII – IGBC.
These products are marketed through its subsidiary JSW Steel Coated Products Ltd. and manufactured at its facilities in Vasind, Kalmeshwar, and Tarapur in Maharashtra.
For the September quarter, JSW Steel reported a consolidated loss of Rs 915 crore compared to a consolidated net profit of Rs 7,179 crore in the year-ago period. The steelmaker made a profit of Rs 839 crore during the previous quarter.
A steep fall in domestic steel prices impacted the revenue of the company. Further, the meltdown in global commodity prices adversely impacted its bottom line. Higher power and fuel costs also dented the profitability for the second quarter.
Consolidated revenues rose 29 percent to Rs 41,778 crore from Rs 32,503 crore in the corresponding quarter a year ago. Sequentially, the revenue increased by 10 percent from Rs 38,086 crore in the previous quarter.
Shares of JSW Steel ended 0.89 percent higher at Rs 744.75 on Thursday.
