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JSW Steel output grows 6% in Q4; registers 6% fall in FY21

In a statement, the JSW Group company said it had produced 3.97 MT steel during the same quarter of financial year 2019-20.

April 08, 2021 / 02:46 PM IST

JSW Steel on Thursday reported nearly 6 percent year-on-year increase in its output at 4.19 million tonne (MT) for the quarter ended March 31, 2021.

In a statement, the JSW Group company said it had produced 3.97 MT steel during the same quarter of financial year 2019-20.

During January-March 2021, the company''s production of flat rolled products rose by 4 percent to 2.99 MT, from 2.87 MT in the year-ago period.

While the output of long rolled products registered a rise of 11 percent to 1.05 MT, from 0.95 MT in January-March quarter of 2019-20 fiscal.

The company''s average capacity utilisation improved to 93 percent in the last quarter. In March alone, the capacity utilisation was 96 percent.

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"Even though the average capacity utilisation improved from 66 percent in Q1 (April-June) to 93 percent in Q4 (January March), the crude steel production for FY 2020-21 was lower by 6 percent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21," the company said.

In the financial year 2020-21, the company saw its output falling by 6 percent to 15.08 MT, as against 16.06 MT in the preceding fiscal.

During April-March 2020-21, the company produced 10.87 MT flat rolled products, down 4 percent from 11.35 MT in the 2019-20 fiscal.

The output of long rolled products also fell by 14 percent to 3.21 MT from 3.72 MT a year ago.
PTI
first published: Apr 8, 2021 02:48 pm

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