JSW Steel on Monday announced that it has reported consolidated crude steel production for the month of November 2023 at 22.04 lakh tonnes, up 11 per cent in comparison to the same period last year. It had posted crude steel production at 19.94 lakh tonnes during November 2022.

While the production volumes for Indian Operations stood at 21.14 lakh tonnes, up 7 per cent year-on-year as against 19.70 a year ago, the JSW Steel USA-Ohio volumes was at 0.90 lakh tonnes in comparison to 0.24 lakh tonnes the previous year. “Capacity utilisation at Indian Operations level stood at 90 per cent for November’23. JSW Steel USA-Ohio volumes were positively impacted due to improved demand compared to last year, the company said in a regulatory filing.

JSW Steel is the flagship business of the $23 billion JSW Group. Over the last three decades, the company has grown from a single manufacturing unit to become an integrated steel company with a capacity of 29.7 MTPA in India and the USA. Its next phase of growth in India will take its total capacity to 38.5 MTPA by FY25, it said. The Company’s manufacturing unit in Vijayanagar, Karnataka has a current capacity of 12.5 MTPA, increasing to 19.5 MTPA by FY25.

Earlier in October, JSW Steel posted a consolidated net profit of Rs 2,760 crore for the quarter ended September, buoyant on the rise in sales. In comparison, the company had recorded a net loss of Rs 848 a year ago. During the reporting quarter, revenues rose 6.7 per cent to Rs 44,584 crore from Rs 41,778 crore a year ago. The firm’s steel sales for the quarter stood at 6.34 million tonnes, 11 per cent higher on a quarter-on-quarter basis and 10 per cent up year-on-year. Domestic sales rose to 5.49 million tonnes, up 18 per cent QoQ, driven by strong domestic demand and improvement in product mix. The firm was able to reduce inventories by 0.3 million tonnes during the quarter.