JSPL Steel Output Surged First Three Quarters This Fiscal

The limited rake availability and exceptionally high rainfall in several states resulted in constrained sales during the quarter.

SEATTLE (Scrap Monster): Jindal Steel and Power Limited (JSPL) announced total steel production of 5.9 million tonnes during April-December ’21. This is 9% higher when matched with the corresponding period a year before. The company targets to produce around 8 to 8.2 million tonnes of steel during the current fiscal year.

The company press release said that the steel output totalled 1.96 million tonnes during the October-December quarter. It sold 1.82 million tonnes of steel during the quarter. The limited rake availability and exceptionally high rainfall in several states resulted in constrained sales during the quarter.

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The steel sales by the company totalled 6.85 lakh tonnes in the month of December 2021, registering significant surge by 27% over the prior month. Exports accounted for 28% of the total steel sales during the month.

V R Sharma, Managing Director, JSPL noted that the company is happy to share that it has achieved production growth of 9% in the first nine months of FY22. Furthermore, it is the first time that the company has achieved 8 million tonnes per annum (mtpa) of production in a calendar year. JSPL is confident of achieving its previously announced guidance of 8-8.2 mtpa, Sharma added.

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