Shutdown and monsoon impacted production
JSW Steel's crude steel production fell 13 percent in August, hampered by a shutdown and the impact of monsoons.
The leading steelmaker in the country produced 12.53 lakh tonnes in August.
"The production was lower due to planned shutdown at Vijayanagar works and severe monsoon impact at Dolvi works," the company said.
Vijayanagar is the company's largest unit.
Production of flat steel, used in the auto industry, dropped 13 percent to 8.51 lakh tonnes while that of long steel, consumed by the construction industry, was down 5 percent.In an interview with Moneycontrol in August, JSW Steel's Joint Managing Director and Group CFO Seshagiri Rao had said the industry will be forced to cut production in the coming months as economic slowdown has dampened demand from clients in infrastructure and auto sectors.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.