Crude steel production of JSW Steel declined 7 per cent year-on-year to 12.9 lakh tonne in November, the company said in a filing to the exchanges. Similarly, output grew 3 per cent. The blast furnaces, which were temporarily shut down in October due to a slowdown in auto sales because of muted demand, resumed operations in the last week of November, the company said.
Production of flat-rolled products declined to 9.09 lakh tonne in November from 9.15 lakh tonne a year ago, while the output of long rolled products declined 14 per cent to 2.99 lakh tonne during the reporting month. In October and November this year, the steel major supplied more than 30,000 tonnes of JSW Neo steel TMT bars for construction of metro projects in various cities of the country.
JSW Steel is India’s second-largest steel manufacturer with an installed steel-making capacity of 18 million tonnes per annum. The company had reported a 29.6 per cent year-on-year rise in its net profit to Rs 2,917 crore for the September quarter. At 1412 IST, shares of JSW Steel were up nearly 1 per cent at Rs 256.30 apiece.
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