JSW Steel production in January rises marginally

JSW Steel Ltd. Monday said its crude steel production for the month of January rose marginally by one percent to 11.20 lakh tonnes compared to 11.09 lakh tonnes in the corresponding month of 2014.

According to the company, flat rolled steel, a variant of metalworking for enhanced durability and strength' production increased by 8.62 percent at 9.07 lakh tonnes against 8.35 lakh tonnes of production in January 2014 while long rolled steel, another metal-working variant rose nearly by four percent.

The Mumbai-based company posted a fall in its profit margin by 29.5 percent for the quarter ended Dec 31 with net profit declining to Rs.329 crore. The total income of the steel company declined 2.9 percent to Rs.13,223 crore for the period October-December from Rs.13,622.8 crore in the year-ago period.

The company is one of the largest producers and exporters of coated flat metal products in the country with the presence in over 100 countries across five continents.