Team News Riveting
Raipur, January 4
Jindal Steel and Power Limited (JSPL), India’s leading steel producer, posted a strong recovery in the steel sales sequentially in December 2021.
The company reported steel sales of 6.85 lakh tonne, up 27 per cent month-on-month (MoM). JSPL’s steel sales would have been higher but for the impact of the non-availability of railway rakes for the third consecutive months, JSPL said in a regulatory filing today.
Steel sales of 1.82 Million Tonne (MT) in Q3FY22 were also constrained due to limited rake availability and unseasonal rains in several states. Exports accounted for 28 per cent of steel sales in December 2021 and 23 per cent for the quarter.
JSPL reported steel production of 5.904 MT in the last nine months of the current financial year, which is nine per cent rise as compared to last year for the same period.
“We are happy to share that we have been able to achieve production growth of 9% in the first 9 months of FY22 and have achieved 8 MTPA for the first time in a calendar year. We are confident that in this financial year, we will b able to achieve our guidance of 8-8.2 MTPA. The company is a firm believer in the India growth story and committed to GOI’s targets of steel production,” said V R Sharma, Managing Director of JSPL, said.
