JSW Steel in demand after good steel production in Q3

JSW Steel gained 1.69% to Rs 408.65 after the company's steel production for the quarter ended December 2020 was at 4.08 million tons, registering a growth of 6% QoQ and 2% YoY.

"The company's average capacity utilisation improved to 91% in Q3 December 2020 from 86% posted in Q2 September 2020, JSW Steel said in a BSE filing made during market hours today.

The production of flat rolled products improved 4% year-on-year (YoY) to 2.98 million tons in Q3 December 2020 over Q3 December 2019. The production of long rolled products rose 4% YoY to 0.93 million tonnes in Q3 December 2020.

 

JSW Steel, a flagship company of the JSW Group, is an integrated steel manufacturer in India with an installed steel-making capacity of 18 million tonnes per annum (MTPA).

On a consolidated basis, the steel major's net profit declined 37.77% to Rs 1,593 crore on 9.63% increase in revenue from operations to Rs 19,264 crore in Q2 September 2020 over Q2 September 2019.

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