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JSW Steel gains after November 2021 crude steel production spurts 10% Y-o-Y

Capital Market 

JSW Steel rose 1.21% to Rs 669 after the company's standalone crude steel production for the month of November 2021 grew 10% to 14.60 lakh tonnes as against 13.32 lakh tonnes in November 2020.

On a sequential basis, crude steel production rose by 2% in November 2021 from 14.25 lakh tonnes produced in October 2021.

While the production of flat rolled products increased by 4% to 9.99 lakh tonnes, production of long rolled products jumped 13% to 3.32 lakh tonnes in November 2021 over November 2020. Sequentially, production of flat rolled products and that of long rolled products fell by 4% and 1%, respectively.

The figures exclude trial production from Phase II expansion of Dolvi (Maharashtra) works for part of the month of November 2021, the company's press statement highlighted.

The company's net profit surged 350.1% to Rs 7,179 crore on 71% increase in net sales to Rs 31,909 crore in Q2 September 2021 over Q2 September 2020.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company with a steel-making capacity of 28 MTPA in India & USA, including capacities under joint control & new capacity to be commissioned at Dolvi during this year.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 08 2021. 09:19 IST