JSW Steel consolidated crude steel production for Q3FY24 at 6.87 million tonnes, up by 12% YoY

financialexpress.com:

JSW Steel Ltd on Tuesday announced that its consolidated crude steel production for the third quarter of FY24 stood at 6.87 million tonnes, up 8 per cent QoQ and 12 per cent YoY. 

In a regulatory filing, the company said that the capacity utilisation at Indian operations level stood at 94 per cent for Q3FY 24. JSW Steel USA – Ohio, meanwhile, reported better volumes due to improved demand on QoQ as well as YoY basis.

In Indian operations, crude steel production increased to 6.63 million tonnes in the third quarter of FY24 as against 6.20 million tonnes during the second quarter of FY24, posting a 7 per cent increase sequentially and 9 per cent rise on-year basis. 

For the USA-Ohio operations, JSW Steel recorded a crude steel production at 0.24 million tonnes during the third quarter of FY24, up 76 per cent as against 0.14 million tonnes during Q2FY24. The USA-Ohio business posted a 191 per cent on-year increase in production. 

The merger of the joint venture, Creixent Special Steels Limited along with its subsidiary JSW Ispat Special Products Limited (JISPL) with the Company, became effective on 31 July 2023. The production volumes have not been restated for the earlier periods, the company said in the regulatory filing.

JSW Steel is the flagship business of the $23 billion JSW Group. The company also has interests in energy, infrastructure, cement, paints, sports, and venture capital. Over the last three decades, JSW Steel has grown from a single manufacturing unit to become a leading integrated steel company with a capacity of 29.7 MTPA in India and the USA. Its next phase of growth in India will take its total capacity to 38.5 MTPA by FY25.