JSW Steel gains as crude steel production rises 3% YoY in Q4

Sequentially, crude steel production fell 1% from 6.87 MMT posted in Q3 FY24.

Production of Indian operations stood at 6.54 million tonnes during the quarter, registering a growth of 3% YoY and a decline 1% QoQ with capacity utilisation level stood at % for Q3 FY24.

The firm said that JSW Steel USA ? Ohio reported better volumes on QoQ as well as YoY basis. Production of JSW Steel USA ? Ohio in Q4 FY24 was at 0.25 million tonnes, (up 19% YoY and 3% QoQ).

On full year basis, the steel maker registered highest ever consolidated crude steel production of 26.43 MMT in FY24, up 9% as against 24.15 MMT in FY23.

The company achieved combined production of 26.68 million tonnes as against its guidance of 26.34 million tonnes, which is a 101% achievement.

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

The steel manufacturer reported a consolidated net profit of Rs 2,415 crore in Q3 FY24, steeply higher than Rs 490 crore recorded in Q3 FY23. Revenue from operations grew by 6.87% year on year to Rs 41,337 crore in the quarter ended 31 December 2023.

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