JSW Steel production drops 13 per cent in August

JSW Steel Limited has reported Crude Steel production at 12.53 lakh tonnes (LT) for August 2019, registering a fall of 13 per cent over corresponding month of previous year.

The production of rolled products (long) decreased by 5 per cent to 2.91 LT in August 2019 as compared to 3.05 LT in August 2018. The production of rolled products (flat) stood at 8.51 LT in August 2019 as compared to 9.81 LT in August 2018, lower by 13 per cent.

The company's consolidated revenue for Q1FY20 came in at Rs. 19,407 crore as against Rs. 19,950 crore in the corresponding quarter last year, registering 2.7 per cent yoy decline. The EBITDA for the quarter fell by 27 per cent yoy to Rs. 3,311 crore as against Rs. 4,536 crore in the corresponding quarter last year, with a corresponding margin contraction of 568 bps. The PAT for the quarter came in at Rs. 1,008 crore as against Rs. 2,339 crore in the corresponding quarter last year, marking a yoy decline of 56.9 per cent.

JSW Steel is one of the largest steel manufacturing companies in India with an installed capacity of 18 MTPA.

On Wednesday, stock of JSW Steel closed at Rs. 227.70, up by 3.6 per cent. During the day, it made intra day high and low of Rs. 228.90 and Rs. 220 respectively.