"We expect to reduce debt by Rs 4,000-5,000 crore in FY19," said Naushad Akhter Ansari, Chief Executive Officer, Jindal Steel and Power (JSPL).
"We target total steel sales volume of 9 million tonne in FY19 for both India and Oman," said Ansari.
Talking about domestic steel business, he said, "With the kind of demand pull which is there, the kind of cost reduction programme which we continue to have, we operate in that region where we left in the last quarter."
“Between $280 million and $300 million is what we are expecting from Oman," he added.
He further said that higher gas availability will aid operating performance in Oman in FY19.
JSPL posted a consolidated net profit of Rs 5.5 crore in Q4FY18 against net loss of Rs 351 crore in Q4FY17.