JSPL Steel Output Surged First Three Quarters This Fiscal

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.

ALSO READ:

JSPL Targets to Become Debt-Free by March 2023

JSPL Highlighted Detrimental Impacts of Further Steel Price Hike

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.