Companies

JSPL Q2 steel output grows 16% to 1.58 million tonnes

PTI New Delhi | Updated on October 08, 2019 Published on October 07, 2019

JSPL

Jindal Steel and Power Ltd (JSPL) on Monday reported a 16 per cent rise in domestic output of steel and related products at 1.58 million tonnes during the September quarter of the ongoing financial year.

The production in the year-ago period stood at 1.36 million tonnes, JSPL said in a BSE filing.

Sales during July-September 2019 were 10 per cent higher year-on-year at 1.46 million tonnes, it added.

“This has been one of the best quarters for JSPL on the back of strong operating and market performance. The company is on track to deliver its highest ever volumes this year and with the ramp-up in production at Angul, we are confident of further accelerating the growth momentum in terms of production and sales,” V R Sharma, MD, JSPL was quoted as saying in the filing.

He further said the company’s priority is to take its EBITDA to over ₹12,000 crore per year on a consolidated basis and reduce net debt by more than ₹10,000 crore to a level below ₹30,000 crore in next two years.

Published on October 07, 2019
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