JSW Steel on Thursday reported a 5 per cent year-on-year rise in consolidated crude steel production for the month of February 2024 at 21.5 lakh tonnes. This is in comparison to crude steel production of 20.51 lakh tonnes during the same month last year, the company said in a regulatory filing.
From its India operations, the company produced 20.59 lakh tonnes of steel in February 2024, up 4 per cent on-year as against 19.78 lakh tonnes during the February of previous year. Capacity utilisation at Indian operations level stood at 92 per cent for February’24.
Meanwhile, JSW Steel USA – Ohio recorded steel production at 0.91 lakh tonnes, posting an increase of 24 per cent from 0.73 lakh tonnes in February 2023.
This comes a day after JSW Steel announced the appointment of Robert Simon as the Chief Executive Officer of JSW USA. He will lead the overall business comprising slab, coil, pipe & plate production and sales at Baytown and Mingo Junction, the company had stated in an exchange filing.
Earlier in January, JSW Steel Ltd had recorded its third quarter profit for the financial year 2023-24 at Rs 2415 crore, up 392.9 per cent in comparison to Rs 490 crore during the third quarter of FY23. It had posted revenue from operations at Rs 41,940 crore, up 7.2 per cent in comparison to Rs 39,134 crore during the corresponding quarter of previous year.