JSW Steel output grows 6% in fourth quarter; registers 6% fall in FY21

JSW Steel on Thursday reported nearly 6 per cent year-on-year increase in its output at 4.19 million tonne (MT) for the quarter ended March 31, 2021.

In a statement, the JSW Group company said it had produced 3.97MT steel during the same quarter of financial year 2019-20.

During January-March 2021, the company's production of flat rolled products rose by 4 per cent to 2.99 MT, from 2.87 MT in the year-ago period.

While the output of long rolled products registered a rise of 11 per cent to 1.05 MT, from 0.95 MT in January-March quarter of 2019-20 fiscal.

The company's average capacity utilisation improved to 93 per cent in the last quarter. In March alone, the capacity utilisation was 96 per cent.

"Even though the average capacity utilisation improved from 66 per cent in Q1 (April-June) to 93 per cent in Q4 (January March), the crude steel production for FY 2020-21 was lower by 6 per cent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21," the company said.

In the financial year 2020-21, the company saw its output falling by 6 per cent to 15.08 MT, as against 16.06 MT in the preceding fiscal.

During April-March 2020-21, the company produced 10.87 MT flat rolled products, down 4 per cent from 11.35 MT in the 2019-20 fiscal.

The output of long rolled products also fell by 14 per cent to 3.21 MT from 3.72 MT a year ago.