JSW Steel's production grows 12% to 2.32 million tonnes in October
.webp)
JSW Steel on Thursday announced that consolidated crude steel production for October stood at 2.32 million tonnes, growing by 12 per cent year-on-year (y-o-y).
Capacity utilisation at the level of Indian operations was recorded at 95 per cent for October. The company said in a press release that JSW Steel USA-Ohio volumes were positively impacted due to improved demand compared to last year.
On a yearly basis, production from Indian operations in October grew 9 per cent to 2.23 million tonnes from 2.04 million tonnes. JSW Steel USA-Ohio registered a growth of 412 per cent from 0.015 million tonnes in October 2022-23 to 0.076 million tonnes in October 2023-24.
JSW Steel had reported a consolidated net profit of Rs 2,760 crore in the July to September quarter (Q2FY24) on the back of higher sales and lower coking coal costs. In the year-ago period, it had recorded a net loss of Rs 848 crore.
Revenue on a consolidated basis in Q2FY24 at Rs 43,834 crore was higher by 6.64 per cent year-on-year (Y-o-Y). The numbers beat expectations on revenue and profit.
JSW Steel is the flagship business of the diversified, $23 billion steel-to-sports JSW Group.
Other Latest News
.webp)
After the Haryana poll debacle, Congress MP and LoP Rahul Gandhi attended the review meeting called by party president Mallikarjun Kharge at his residence in Delhi. Among those present were the party's Haryana observers Ashok Gehlot, Ajay Maken, Deepak Babaria and KC Venugopal.
Sources said that the Congress MP remained largely quite, but when his turn came, he observed two things; one being that Electronic Voting Machines (EVM) and the Election Commission of India (EC) "have much to answer" and another was that "the local leaders were more interested in their own progress than that of the party", leaving a loud silence in the room.
.webp)
Former US President Donald Trump, who is campaigning for another term in the White House, promised to introduce a system of "reciprocal tariffs" if re-elected. In an economic policy speech in Detroit on Thursday, the Republican candidate singled out India, claiming it imposes some of the highest tariffs on foreign goods among major global economies.
This is not the first time Trump has criticised India for its tariffs. Just last month, he called the nation a "big abuser" of US trade relations.
.webp)
Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal.
Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said.
.webp)
Israeli airstrikes targeted the Ras el-Nabaa neighbourhood in central Beirut, Lebanon, killing at least 22 people and wounding 117 others, according to Lebanon's Ministry of Public Health, as reported by Al Jazeera.
The strikes, which occurred at midnight on Thursday without prior warning, hit two residential buildings in the heart of the capital. One of the targeted buildings is located in an area sheltering many displaced people.
.webp)
Maharashtra Cabinet-led by Chief Minister Eknath Shinde on Thursday passed a resolution urging the Centre to confer country's highest civilian award, Bharat Ratna to veteran industrialist Ratan Tata who passed away in Mumbai in recognition of his achievements.
Tributes were paid to Padma Vibhushan Ratan Tata in the state cabinet meeting held today.
.webp)
.webp)
.webp)
.webp)
.webp)
