On February 13, major Indian steelmaker JSW Steel (JSW) announced its financial results for the third quarter and the first nine months ended December 31 of the financial year 2012-13 and its operational results for January 2013.
In the third quarter of FY 2012-13, JSW's net sales value increased by five percent to INR 88.6 billion ($1.64 billion) as compared to the same quarter of the previous year. Meanwhile, JSW's net sales value rose by 18 percent year on year to INR 282.4 billion ($5.25 billion) in the nine months ended on December 31.
Furthermore, in the third quarter of the current financial year JSW recorded a net loss of INR 740 million ($13.7 million), while it registered a net profit of INR 6.67 billion ($124 million) for the nine months ended December 31 as compared to the corresponding period of the previous financial year.
In the first month of 2013, JSW produced 716,000 mt of crude steel, down 11 percent year on year. In the given month, JSW saw a one percent decrease in its flat rolled production and a three percent fall in its long rolled product output, both compared to the same month of the previous year. In January, JSW produced 589,000 mt of flat rolled steel and 146,000 mt of long steel.