JSW Steel reduces sales projections for fiscal
ET reported that JSW Steel has revised its volume projection downwards for the present financial year.
The report quoted Mr Sheshagiri Rao joint MD and Group CFO of JSW Steel as saying that “We will be able to grow by 9% to 10% this fiscal.”
Mr Sheshagiri Rao said that “The downward revision is on the back of moderation of production in Q1 FY11 due to various international factors.”
Earlier, JSW had targeted a growth of 18% in sales volumes compared to the last fiscal.
JSW Steel is now expected to produce crude steel to the tune of 6.5 million tonnes compared to 7 million tonnes projected earlier.
In the last fiscal, the company produced 6 million tonnes of steel.
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