JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 3% decline in production of crude steel in the fourth quarter of Financial Year 2019.
JSW produced 4.17 million tonnes of crude steel during this period, compared to the 4.31 million tonnes produced a year ago.
Besides crude steel, the company also produces long rolled products as well as flat products.
While the production of flat rolled products registered a growth of 1% at 3.01 million tonnes during the period, the output for flat rolled products fell by 8% to 0.99 million tonnes in this quarter.
Flat rolled products are used in automotives, heavy machinery, pipes and tubes, construction and packaging whereas long rolled products such as wires, rods, bars and rails are mainly used in the construction sector.
FINANCIAL YEAR 2018-19
JSW reported a growth of 3% in the production of crude steel in the financial year 2018-19.
The company produced 16.69 million tonnes of crude steel in the current financial year, compared to the 16.27 million tonnes produced in FY 2017-18.
Its output for flat rolled products was at 11.74 million tonnes, up 3% in FY 2018-19, whereas the production of long rolled products was at 3.57 million tonnes, up by 9% from the previous financial year.
JSW Steel is the flagship company of the USD 13 billion JSW Group which has presence in sectors such as steel, energy, infrastructure, cement, sports among others.
