JSPL output jumps 18 per cent to 6.53 lakh tonnes in February

Steelmaker Jindal Steel & Power Ltd on Friday reported an 18% growth in February 2021 crude steel production at 6.53 lakh tonne as against 5.54 lakh tonne during the same period last year.

“We are on our path of continuous growth month after month and will enhance production further

without any new CAPEX in this financial year,” said VR Sharma, Managing Director, JSPL.

The company also reported a 14% y-o-y growth in shipments to 5.45 lakh tonnes as compared to 4.80 lakh tonnes in the previous year.

“While shipments were 6% lower m-o-m, on a per-day basis, shipments were 4% higher m-o-m. Exports accounted for 26% of the total sales volumes,” the company said in a media statement.

JSPL posted a consolidated net profit of Rs 2,432.20 crore for the quarter ended December 2020, mainly on account of increased income. The company had recorded a net loss of Rs 257.36 crore during the same quarter a year ago.