JSW Steel produces 14% more crude steel in Q1 FY11

JSW Steel, part of the O P Jindal Group, has reported a growth of 14 per cent in its crude steel production in the first quarter of the current financial year over the corresponding period last year.

The company produced 1.57 million tonnes of crude steel during the period.

Moreover, in the rolled product categories, the company produced 26 per cent more flat rolled products at 1.09 million tonnes 71 per cent more long products at 0.3 million tonnes.

"The commissioning of 6.6 million tonne per annum (mtpa) expansion project with 3.5 mtpa new hot strip mill at Vijayanagar works in the last financial year enabled the company to achieve higher production," company said in a statement.

In FY10, the company has registered sales of Rs 1,831.4 crore while net profits stood at Rs 202.27 crore.

On the Bombay Stock Exchange, the company's shares hit a high of Rs 1,160.25 before slumping to Rs 1,091.35, up 1.47 per cent at IST 1203.