JSW Steel slips as crude steel production slides 4% YoY in May'24

JSW Steel declined 1.07% to Rs 902.25 after its consolidated crude steel production decreased 4% to 20.98 lakh tonnes in May 2024 as against 21.78 lakh tonnes recorded in May 2023.

The decline in crude steel production was mainly due to a planned maintenance shutdown for one of the blast furnaces at Dolvi. The blast furnace has been restarted in the first week of June 2024.

Production of Indian operations stood at 20.13 lakh tonnes for May 2024, registering a de-growth of 4% year on year with capacity utilisation was at 86% in May 2024.

In May 2024, JSW Steel USA - Ohio's production remained steady at 0.85 compared to May 2023.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

JSW Steel reported 64.66% decline in consolidated net profit to Rs 1,332 crore in Q4 FY24 as compared with Rs 3,741 crore in Q4 FY23. Revenue from operations fell 1.48% YoY to Rs 46,269 crore in Q4 FY24.

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