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JSPL Output Grows 5%; Sales Jump 10% In July-September

JSPL's sales volume surged 10 percent year-on-year "to hit a record" of 2.13 million tonne during the quarter,

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Jindal Steel and Power Limited (JSPL) on Tuesday said its production grew by 5 percent, while sales have recorded 10 percent growth in the July-September period of the ongoing fiscal. During the period under review, the company produced 1.93 million tonne (MT) steel, which was 5 percent higher over the July-September quarter of the financial year 2020-21, JSPL said in a statement.

JSPL's sales volume surged 10 percent year-on-year "to hit a record" of 2.13 million tonne during the quarter, it said. During the first half of the financial year 2021-22, the company said it produced 3.94 million tonne steel and sold 3.74 million tonne steel.

The company also said its inventory levels continue to decline as sales volume surpassed production for the third consecutive month in September 2021. 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 mines 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 the preferred bidder for the Kasia iron ore mine by the Government of Odisha which will further enhance the company's raw material security.

With investments worth Rs 90,000 crore across the globe, JSPL has a significant presence in the steel, power, and mining sectors.

(PTI)


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