JSW Steel slips after declaring Q4 steel production figures

JSW Steel fell 1% to Rs 287.90 at 13:48 IST on BSE after the company said its crude steel production fell 3% to 4.17 million tonnes in Q4 March 2019 over Q4 March 2018.

The announcement was made during trading hours today, 9 April 2019.

Meanwhile, the S&P BSE Sensex was down 5.80 points, or 0.01% to 38,694.73.

On the BSE, 1.19 lakh shares were traded in the counter so far compared with average daily volumes of 3.26 lakh shares in the past two weeks. The stock had hit a high of Rs 292 and a low of Rs 285.70 so far during the day. The stock hit a 52-week high of Rs 427.30 on 21 September 2018. The stock hit a 52-week low of Rs 256.80 on 11 February 2019.

 

Production of flat rolled products rose 1% to 3.01 million tonnes while production of long rolled products fell 8% to 0.99 million tonnes in Q4 March 2019 over Q4 March 2018.

Crude steel production rose 3% to 16.69 million tonnes in the year ended March 2019 over the year ended March 2018. Production of flat rolled products rose 3% to 11.74 million tonnes while production of long rolled products rose 9% to 3.87 million tonnes in the year ended March 2019 over the year ended March 2018.

On a consolidated basis, net profit of JSW Steel declined 9.64% to Rs 1603 crore on 10.43% rise in net sales to Rs 19821.00 crore in Q3 December 2018 over Q3 December 2017.

JSW Steel is a leading integrated steel manufacturer.

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