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JSPL output grows 5%; sales jump 10% in July-September

During the period under review, the company produced 1.93 million tonne (MT) steel, which was 5 percent higher over July-September quarter of financial year 2020-21, Jindal Steel and Power Limited (JSPL) said in a statement.

October 05, 2021 / 01:14 PM IST
 
 
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Steel maker JSPL on Tuesday said its production grew by 5 percent, while sales have recorded 10 percent growth in July-September period of ongoing fiscal.

During the period under review, the company produced 1.93 million tonne (MT) steel, which was 5 percent higher over July-September quarter of financial year 2020-21, Jindal Steel and Power Limited (JSPL) said in a statement.

JSPL's sales volume surged 10 percent year-on-year "to hit a record" of 2.13 MT during the quarter, it said.

During first half of financial year 2021-22, the company said it produced 3.94 MT steel and sold 3.74 MT steel.

The company also said its inventory levels continue to decline as sales volume surpassed production for the third consecutive month in September 2021.

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JSPL Managing Director V R Sharma said, "JSPL has now better raw materials security, which will add significant value to the company. One of our Australian coking coal mine is operational and we are expecting the first shipment in November 21. It will reduce our coking coal dependency significantly."

Sharma further said JSPL has been shortlisted as preferred bidder for Kasia iron ore mine by Government of Odisha which will further enhance company's raw material security.

With investments worth Rs 90,000 crore across the globe, JSPL has significant presence in the steel, power, and mining sectors.
PTI
first published: Oct 5, 2021 01:14 pm

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