NEW DELHI, Oct 6: Jindal Steel and Power Ltd (JSPL) on Tuesday said its consolidated steel production rose 18 per cent to 2.35 million tonnes (MT) in the July-September 2020 quarter.
Its sales jumped 30 per cent to 2.41 MT in the second quarter of the current fiscal. During July-September 2019, the company’s output was at 1.99 MT and sales stood at 1.85 MT, the company said in a statement. On a quarter on quarter (q-o-q) basis, the 2.35 MT output was 15 per cent higher than 2.03 MT in the April-June quarter of the running financial year. The 2.41 MT sales in July-September was 16 per cent higher, in comparison to 2.07 MT sales in the April-June period. Steel exports contributed to 38 per cent of the total sales volume with 0.74 MT, the company said. On a standalone basis, in the July-September period, JSPL’s output grew 16 per cent to 1.84 MT from 1.58 MT in the same period of the preceding fiscal. The company registered a 29 per cent jump in its standalone sales at 1.93 MT as against 1.49 MT in year-ago-quarter.
On a quarter on quarter (q-o-q) basis, the 1.84 MT standalone output was 10 per cent higher from 1.67 MT in the April-June quarter of the running financial year. The 1.93 MT standalone sales in July-September was 23 per cent higher, in comparison to 1.56 MT sales in April-June period. In the statement, JSPL Managing Director V R Sharma said, “We are setting new production benchmarks for ourselves and would like to surpass them consistently going forward. We are ramping up sales and production, as India comes out of the lockdown effect and ramps up its economic activities towards a renewed growth path.”
Last week, the company received rail supplier status from the Indian Railways for supplying rails for its upcoming and ongoing projects. Part of O P Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors. (PTI)
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