Companies

Jindal Steel & Power steel sales in July up 21 per cent on a monthly basis

Our Bureau New Delhi | Updated on August 05, 2021

Reports monthly steel production of 6.5 lakh tonnes

Jindal Steel & Power Ltd (JSPL) reported a sharp surge in its steel sales for the month of July at 6.7 lakh tonnes, up 21 per cent on a month-on-month basis. Whereas a 5 per cent increase was registered in sales on a year-on-year basis as last year during the same month, sales recorded were at 6.4 lakh tonnes.

The company reported monthly steel production of 6.5 lakh tonnes, 8 per cent higher on year-on-year basis as against 6.03 lakh tonnes during the same month in the previous year.

Meanwhile, JSPL’s exports accounted for more than 40 per cent of the total sales volumes due to high spot demand from international markets, the company’s release said.

“Despite second wave of Covid related disruptions, we are on track to achieve our annual target of 8.25 mt (million tonnes) for FY22. Further, we are seeing Covid cases coming down, which will give a major relief to the industry and our customers. The effective vaccination campaign driven by the Government of India will encourage workers to return to construction sites and help speed up manufacturing, which will likely to boost domestic demand,” said VR Sharma, Managing Director, JSPL, in a statement on Thursday.

Published on August 05, 2021

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