JSW Steel's crude steel production rises 47% in July

JSW Steel said it produced 9. 91 lakh tonne of crude steel in July, up 47 percent year-on-year from its three manufacturing units at Vijayanagar, Salem and Dolvi.

During the period, the company’s production of flat rolled products was up 64 percent to 7.9 lakh tonne while that of long products rose 31 percent to 1.86 lakh tonne.

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The firm said its capacity utilisation was lower in July at its 10 MT Vijayanagar plant in Karnataka due to shutdown of one of its furnaces for relining and capacity enhancement. The facility will resume production next month-end

Meanwhile, JSW Steel has posted a net loss of Rs 220 crore during June quarter on higher forex loss. The firm said its sales during the quarter stood at Rs 9235 crore.

The firm completed scheme of amalgamation with Ispat Industries during the quarter and hence numbers of corresponding quarter of FY13 are not comparable.

The firm has reported forex loss of Rs 850 crore as the rupee depreciated around 9 percent against the dollar during the quarter.