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videos | IST

Most of the cost pressure will be passed on to the market, says JSPL

Jindal Steel & Power (JSPL) has posted its highest ever domestic quarterly steel production at 1.3 million tonne as well as highest ever sales of 1.27 million tonne in Q2. The stock, however, has lost about 25 percent in the last one month.
Naushad Akhter Ansari, CEO of JSPL said that the production increased by 46 percent in Q2 of FY19.
Talking about cost pressure, Ansari said that most of the cost pressure will be passed on to the market.
On debt and finance front, he said, “The finance cost has come down ... we are still in discussion with the banks to reduce it further and we think it should be reduced further.”
“As far as debt is concerned we have been paying the entire repayment as well as interest on time and the number is close to Rs 42,000 crore (of debt) at the moment,” he added.