JSW Steel reported its 3rd quarter results; crude steel production down by 15% and flat steel sales by 24%, but long steel sales up by 40% against Q3 FY15.
JSW Steel yesterday reported increase in its saleable long steel sales by 40% Y-o-Y to 0.66 MnT and 2% Q-o-Q. However, saleable flat steel sales decreased by 24% Y-o-Y to 2.55 MnT and 26% Q-o-Q.
Similarly, the company also reported fall in crude steel production by 15% Y-o-Y and 17% Q-o-Q. The major reason behind the fall is JSW had planned to shutdown its blast furnaces because of relining/modification and capacity expansion at all upstream steel making location viz Vijayanagar, Dolvi and Salem Units.
It also reported that sales in domestic market especially in retail segments have grown up by 82% Y-o-Y during the quarter amid expansion in distribution network.
The company’s domestic sales grew by 8% Y-o-Y but export sales fell to 12% of the total sales from 29% in the same quarter last year.
JSW Steel quarterly performance (standalone)
|
Particular |
Q3 FY16 | Q3 FY15 | Q2 FY16 | %Y-o-Y |
%Q-o-Q |
| Crude Steel Production | 2.7 | 3.17 | 3.25 | -15% | -17% |
| Long Steel Sales | 0.66 | 0.47 | 0.65 | +40% | +2% |
| Flat Steel Sales | 1.86 | 2.44 | 2.5 | -24% | -26% |
| Semis Steel Sales | 0.03 | 0.11 | 0.03 | -73% | 0% |
| Total | 2.55 | 3.02 | 3.18 | -16% | -20% |
Quantity in MnT
Source: Company Website, SteelMint
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