JSW Steel reports that its consolidated production of crude steel reached 6.87 million tonnes in Q3 FY24, up 8% from the previous quarter and 12% from the year before.
The third quarter saw a 94% capacity utilisation rate at Indian operations, primarily due to an increase in infrastructure projects that increased demand for metals.
The production of crude steel in Indian operations has increased sequentially by 7% from 6.20 million tonnes in Q2FY24 to 6.63 million tonnes, a 9% year-over-year increase.
JSW Steel reports a noteworthy 191% year-over-year rise in crude steel production for the USA-Ohio operations, reaching 0.24 million tonnes. The output increases sequentially by 76% from 0.14 million tonnes in Q2FY24 to this level.
According to Crisil, India’s steel industry will grow by double digits for the third year in a row in the current fiscal year, with annual growth of 11–13%.
Under Sajjan Jindal’s leadership, JSW Steel reported quarterly consolidated total income of Rs 44,821 crore for the September quarter, up from Rs 41,966 crore for the same period last year.
Consolidated crude steel output was 6.34 million tonnes in the second quarter, down 1% from the previous quarter but up 12% from the previous year.