JSW Steel Reports 6.35 Mn Tonnes Of Crude Steel Production For Q1 FY25

JSW Steel has announced its consolidated crude steel production of 6.35 million tonnes for the first quarter of the fiscal year 2024-25 (Q1 FY25). This figure represents a slight decline of 1 per cent compared to the production volume of 6.43 million tonnes recorded in the same period last year (Q1 FY24).

Sequentially, the company's production volume saw a more pronounced decrease of 6 per cent, down from 6.79 million tonnes in the fourth quarter of FY 2023-24 (Q4 FY24). The decline has been attributed to planned maintenance shutdowns, which impacted production capacity.

In terms of operational efficiency, JSW Steel's capacity utilisation level at its Indian operations stood at 87 per cent for Q1 FY25. The Indian division produced 6.12 million tonnes of steel in this quarter, marking a 6 per cent year-on-year decline and a 1 per cent decrease from the previous quarter.

JSW Steel USA, the company's Ohio-based subsidiary, reported a steel production volume of 0.23 million tonnes for Q1 FY25, slightly down from 0.24 million tonnes in Q1 FY24 and 0.25 million tonnes in Q4 FY24.

JSW Steel, the flagship business of the diversified JSW Group, remains India's leading integrated steel company. However, the company has faced financial challenges, reporting a 64.66 per cent decline in consolidated net profit to Rs 1,332 crore, alongside a 1.48 per cent fall in revenue from operations to Rs 46,269 crore in Q4 FY24 over Q4 FY23.

In response to the production and financial updates, JSW Steel's stock price shed 0.74 per cent to trade at Rs 928.10 on the Bombay Stock Exchange (BSE).