Shares of the Mumbai-based steel maker – JSW Steel – fell the maximum amount as 4.48 per cent to hit an intraday low of ₹ 306.65 after it reported September quarter earnings on Saturday.
On a sequential basis, however, the corporate turned profitable because it reported a loss of ₹ 146 crore within the previous quarter, the company’s exchange filing showed.
On sequential basis, JSW Steel’s crude production rose 30 per cent to three .85 million tonnes and saleable steel sales rose 47 per cent to 4.12 million tonnes, the company’s release added.
However, this benefit in cost was partially offset by increase in the iron ore prices,” JSW Steel said in a press release.The company achieved an average capacity utilisation level of 86 per cent for the quarter.
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