Press Trust of India |
New Delhi
July 11, 2012
Last Updated at 16:41 IST
JSW Steel's Q1 production up 27% to 2.14 million tonnes
Shares of the company closed today at Rs 712.95 apiece on the BSE, up 0.05% from the previous close
JSW Steel today reported 27% 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.
Besides, its flat product output grew by 36% to 1.61 MT and long product by 27% 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 only 80% 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% from the previous close.
