JSW Steel reported a consolidated crude steel production of 6.77 million tons for Q2 FY2024-25, marking a 7% increase compared to 6.34 million tons in Q2 FY2023-24. On a sequential basis, production also rose by 7%, up from 6.35 million tons recorded in Q1 FY2024-25. The company achieved a capacity utilization rate of 91% at its Indian operations for the quarter. Additionally, the India division achieved its highest-ever quarterly steel production, reaching 6.63 million tons, a 7% y-o-y growth.
In the U.S., JSW Steel USA, based in Ohio, reported a production volume of 0.14 million tons for the September 2024 quarter, remaining flat y-o-y due to a maintenance shutdown.
JSW Steel, the flagship company of the JSW Group, remains India’s leading integrated steel producer. However, in Q1 FY2024-25, the company saw a sharp decline in its consolidated net profit, which dropped by 64.29% to Rs 867 crore (approximately USD 105 million), compared to Rs 2,428 crore (USD 294 million) in the same period last year. Despite the profit drop, revenue from operations showed a modest 1.73% y-o-y increase, reaching Rs 42,943 crore (around USD 5.18 billion) for the quarter ending in June 2024.
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