JSW Steel trades positive on 6% YoY rise in Q2FY25 steel production

The company reported production of 6.63 million tonnes from Indian Operations in Q2FY25 and over 6.20 million tonnes in Q2FY24, a 7% growth. JSW Steel USA—Ohio’s crude steel production stood at 0.14 million tonnes in Q2FY25.

In Q1FY25, the company reported a decline in crude steel production at 6.3 million tonnes, which was lower by 1% on a YoY basis and 6.6% on a QoQ basis. The lower price realisation and subdued production levels impacted the top line in Q1FY25. The revenue for the quarter increased by 1.7% YoY to ₹42,943 crore as against ₹42,213 crore in the previous year's similar quarter. On the other hand, the bottom line fell sharply by 64% YoY at ₹867 crore for Q2FY25.

JSW Steel Limited is a public limited company incorporated in India on March 15, 1994. The company is primarily engaged in the manufacturing and sale of iron and steel products. The company is an integrated manufacturer of a diverse range of steel products, and its manufacturing facilities are located at Vijaynagar Works in Karnataka, Dolvi Works in Maharashtra, and Salem Works in Tamil Nadu. The company also has a Plate and Coil mill Division in Anjar, Gujarat. The company has entered into long-term lease arrangements for iron ore mines located at Odisha and Karnataka.

Following the quarterly business updates, share price of JSW Steel jumped nearly 1% on Thursday morning at ₹1,007 apiece on the NSE.