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JSPL Q2 output grows 18% to 2.35 MT; sales jump 30% to 2.41 MT

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On a quarter on quarter (q-o-q) basis, the 2.35 MT output was 15 percent higher than 2.03 MT in the April-June quarter of the running financial year.

JSPL Q2 output grows 18% to 2.35 MT; sales jump 30% to 2.41 MT
Jindal Steel and Power Ltd (JSPL) on Tuesday said its consolidated steel production rose 18 percent to 2.35 million tonnes (MT) in the July-September 2020 quarter. Its sales jumped 30 percent to 2.41 MT in the second quarter of the current fiscal. During July-September 2019, the company’s output was at 1.99 MT and sales stood at 1.85 MT, the company said in a statement.
On a quarter on quarter (q-o-q) basis, the 2.35 MT output was 15 percent higher than 2.03 MT in the April-June quarter of the running financial year. The 2.41 MT sales in July-September was 16 percent higher, in comparison to 2.07 MT sales in the April-June period. Steel exports contributed to 38 percent of the total sales volume with 0.74 MT, the company said.
On a standalone basis, in the July-September period, JSPL’s output grew 16 percent to 1.84 MT from 1.58 MT in the same period of the preceding fiscal. The company registered a 29 percent jump in its standalone sales at 1.93 MT as against 1.49 MT in year-ago-quarter. On a quarter on quarter (q-o-q) basis, the 1.84 MT standalone output was 10 percent higher from 1.67 MT in the April-June quarter of the running financial year. The 1.93 MT standalone sales in July-September was 23 percent higher, in comparison to 1.56 MT sales in April-June period.
In the statement, JSPL Managing Director V R Sharma said, ”We are setting new production benchmarks for ourselves and would like to surpass them consistently going forward. We are ramping up sales and production, as India comes out of the lockdown effect and ramps up its economic activities towards a renewed growth path.” Last week, the company received rail supplier status from the Indian Railways for supplying rails for its upcoming and ongoing projects. Part of O P Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors.
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