JSW Steel production boosts 49% in Jan; highest ever
DSIJ Intelligence / 06 Feb 2017
JSW Steel's crude Steel registered a forty-nine per cent growth in production, amounting to 13.85 lakh tonne in January 2017, as compared to same period in the previous financial year.
JSW Steel's crude Steel registered a forty-nine per cent growth in production, amounting to 13.85 lakh tonne in January 2017, as compared to same period in the previous financial year.
Out of this, among the rolled products, the flat products registered a jump of 38 per cent at 10.31 lakh tonnes and long products witnessed a rise of 18 per cent at 2.79 lakh tonnes in January 2017, as compared to same period in the previous fiscal year.
On the financial front, JSW Steel's revenue increased 61.93 per cent to Rs 14,013 crore in Q3FY17 on yearly basis. The company posted an operating profit of Rs 2,867 crore in Q3FY17 against the operating loss of Rs 1,145 crore in Q3FY16. It posted net loss of Rs 709 crore in Q3FY16 while net profit of Rs 730 crore in Q3FY17.
Moody's investors service has changed JSW Steel (JSW) ratings outlook to stable from negative and affirmed the company's corporate family rating (CFR) and senior unsecured rating at Ba3.
The share price of JSW Steel increased 1.78 per cent in early trade and is trading at Rs 193.05 on an intraday basis.
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