Companies

Jindal Steel & Power clocks highest-ever quarterly production in Q3

Our Bureau Mumbai | Updated on January 02, 2020 Published on January 02, 2020

Jindal Steel and Power (JSPL)

The company has also recorded a growth of 30 per cent in sales in this period.

Jindal Steel & Power Ltd (JSPL) has recorded its highest-ever quarterly domestic production of crude steel and related products, with a 22 per cent year-on-year growth in the third quarter-ended December 2019.

This comes from a “strong and consistence performance” across all locations, especially in its Angul operations, the company said in a regulatory filing.

The total crude steel and related production stood at 1.61 million tonne, compared to 1.32 million tonne in the corresponding period last year.

During the third quarter, JSPL has recorded a growth of 30 per cent in sales at 1.66 million tonne, as against 1.27 million tonne in the same period last year. Export rose to more than 3 lakh MT, an increase of 213 per cent (Y-o-Y) in Q3.

"We are going to start our DRI-CGP (Coal Gasification plant) unit at Angul during January 2020, and together with a favourably evolving product mix, we expect to further drive growth in sales and profit,” JSPL Managing Director VR Sharma said.

“Increased demand from infrastructure projects especially for segments like railways, defence, petroleum and pipelines will certainly drive steel demands for JSPL," Sharma added.

Published on January 02, 2020
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