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JSW Steel reports 39% rise in crude steel production for January 2012

28 Feb 2012 Evaluate

JSW Steel’s crude steel production for January 2012 increased by 39% at 8.05 lakh tonnes against 5.80 lakh tonnes in January 2011. 

The company reported 29% increase in production of flat products at 5.95 lakh tonnes in January 2012, compared to 4.62 lakh tonnes in corresponding month last fiscal. Output of long products stood at 1.51 lakh tonne during the month, up 65% against 0.91 lakh tonnes in the same month last fiscal.

The company has reported consolidated net loss of Rs 47.89 crore for the third quarter ended in December due to forex losses, higher raw material costs and the hit taken by group firm JSW Ispat Steel. The company reported a consolidated net profit of Rs 291.72 crore during the October-December quarter in 2010-11. The company’s net sales, however, rose 41% to Rs 8,404.66 crore during Q3 FY12, due to higher revenues from the steel business.

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