JSW Steel USA gets toll conversion services to deliver HRC products to customers in US
Mumbai, May 4: Steel major, JSW Steel said that its subsidiary JSW Steel USA Ohio Inc, has signed a long-term agreement with Allegheny Technologies Inc.
The agreement is for the conversion of carbon steel slabs manufactured at JSW Steel USA’s facility in Mingo Junction, OH into hot rolled coils at ATI’s Hot Rolling and Processing Facility (HRPF) in Brackenridge, PA. As per the terms of the agreement, ATI is expected to hot-roll a significant percentage of carbon steel slabs produced by JSW Steel USA.
JSW Steel gained 1.07% to Rs 731 after the steel maker announced that its US subsidiary has signed a long-term agreement with Allegheny Technologies Inc. (ATI) for the conversion of carbon steel slabs into hot rolled coils.
JSW Steel USA Ohio Inc, a subsidiary of JSW Steel has signed a long-term agreement with Allegheny Technologies Inc. for the conversion of carbon steel slabs manufactured at JSW Steel USA s facility in Mingo Junction, OH into hot rolled coils at ATI s Hot Rolling and Processing Facility (HRPF) in Brackenridge, PA.
As per the terms of the agreement, ATI is expected to hot-roll a significant percentage of carbon steel slabs produced by JSW Steel USA. The agreement expands JSW Steel USA s ability to supply high quality hot rolled products required by its customers in the U.S thus enhancing its product portfolio.
JSW Steel posts multi-fold rise in Q3 profit to ₹2,669 crore on higher realisation
January 22, 2021
The proportion of higher margin value-added and special steel sales increased to 57 per cent in this quarter - REUTERS
The proportion of higher margin value-added and special steel sales increased to 57 per cent in this quarter - REUTERS×
Sales revenue grows 23% to ₹21,487 crore
JSW Steel has reported that its net profit in December quarter increased multi-fold to ₹2,669 crore against ₹187 crore in the same period last year due to higher realisation.
Sales revenue was up 23 per cent at ₹21,487 crore (₹17,416 crore). Despite paying mining premium and royalty of ₹3,604 crore (₹197 crore), the overall expenses were up only two per cent at ₹18,210 crore (₹17,719 crore) as the raw material and finance costs dipped to ₹8,652 crore (₹ 9,177 crore) and ₹997 crore (₹1,060 crore).
JSW Steel s net profit jumps manifold to Rs 2,669 crore in December quarter
JSW Steel logo
JSW Steel on Friday reported a manifold jump in its consolidated net profit to Rs 2,669 crore for the December 2020 quarter.
The private sector steel maker had clocked a net profit of Rs 187 crore in the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing.
Its total consolidated income during October-December 2020 rose to Rs 22,006 crore, compared with Rs 18,182 crore in the year-ago period.
The company s total consolidated expenses stood at Rs 18,120 crore, higher as against Rs 17,719 crore a year ago.
On a standalone basis, the company registered a net profit of Rs 2,829 crore, against Rs 691 crore in the year-ago quarter.