JSW Steel reports 3 per cent rise in Q3FY19 production

JSW Steel, part of JSW Group and a leading manufacturer of steel in India reported an increase in production activity for the third quarter of FY19, in line with this Care rating agency issued AA (stable) rating to the company. 
  
The company informed an overall production of 4.23 million tons crude steel during Q3FY19. This is 3 per cent higher than its last year's production during the same period. The rolled products of the company, which forms a significant part of the revenue, registered production of 3.94 million tons which is as high as 15 per cent. The production reported by the company for the nine months ending December 31 of FY19 company was 12.52 million tons compared to 11.96 million tons for the same period last fiscal, which is higher by 5 per cent. During FY18, the company reported crude steel production of 16.27 million tons. This shows that the company is on its way to replicate its steady performance in the current fiscal also. 
  
Based on strong operational performance and future outlook backed by optimum capacity utilization, the rating agency CARE, has given it CARE AA (Stable) rating. 
  

On Tuesday, at 14.01 pm, the stock was trading at per share price of Rs. 294.55 higher by 1.71 per cent on BSE. The benchmark index BSE Sensex was trading at 35,939.53, higher by 89.37 points.