JSW Steel, one of India's largest steelmakers, has reported that its crude steel production increased by 60 percent in April 2009, compared to the corresponding month of last year. The company attributed the increase to the production from 2.8 million mt per year expansion project at Vijayanagar works.
JSW posted 18 percent rise in rolled flat products and 78 percent in rolled long products on a year-on-year basis.
The Mumbai-based company has posted consolidated net loss of Rupees 399 million (US$8 million) in the fourth quarter of FY 2009, compared with a net profit of Rupees 3.568 billion reported in the fourth quarter of 2008.
For the FY 2009, JSW posted consolidated net profit of Rupees 2.749 billion (US$55.6 million), down by 83 percent from Rupees 16.4 billion in FY 2008.
US$1 = Rupees 49.4