Mumbai, November 1, 2017
JSW Steel Limited (JSW Steel) has announced its results for the second quarter (Q2), witnessing a 29 per cent increase in YoY profits
The standalone performance of crude steel production sttod at 3.94 million tonnes, a one percent increase form the the previous quarter. He production of flat rolled steel stood at 2.98 million tonnes as opposed to 2.76 million tonnes produced in Q1 FY 2017-2018. In Q2 FY2018, the company produced 0.77 million tonnes of long rolled steel against 0.83 million tonnes produced in Q1 FY2018
The crude steel production was impacted by the water shortage in South India, especially the state of Tamil Nadu and also the availability of iron ore at Vijayanagar. JSW recorded a negative growth of one per cent in YoY sales where in Q2 FY 2016-2017 they produced 3.98 million tonnes of steel.
The company recorded a 12 per cent increase from Q1 FY2017, selling 3.92 million tonnes of steel in Q2 FY2018. Its YoY increase stands at two per cent, with 3.84 million tonnes being sold in the Q2 FY2017. The company sold 2.83 million tonnes of flat rolled steel and 0.86 million tonnes of long rolled steel in Q2 FY 2018, according to their press release.
Half yearly steel production remains the same as H1 FY2017 at 7.85 million tonnes. The company has reported a four per cent increase in H1 FY 2018 with 7.43 million tonnes being sold against 7.17 million tonnes in H1 FY 2017.
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