JSPL clocks a 20% jump in production at 2.01 MT in Q1 of FY 22

• Wednesday, July 14, 2021
• Source:ferro-alloys.com

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[Ferro-Alloys.com] Naveen Jindal-led Jindal Steel and Power Ltd, reported a 20% jump in yearly production in Q1 of FY 22 at 2.01 million tonnes as against 1.67 million tonnes during the same period last year. 

 

“We aim to produce 8.0-8.5 Million tonnes of steel in FY22 in line with our core philosophy of nation-building and working towards a self-reliant India,” said V R Sharma, Managing director of JSPL in a media statement. 

 

The company clocked a sales of 1.61 million tonnes, up 3% in the first quarter as against 1.56 mt last year. 

 

Buoyant export markets continued to provide support with exports accounting for 44% of volumes in the month of June 21 and 34% of sales in 1QFY22, the company said. 

 

However, the company said that the exports were impacted by logistical challenges posed by adverse weather conditions leading to congestion at ports. 

 

“Inventory of 1.5 lakh tonnes currently remains stuck at port; which will be shipped as soon as the logistical bottlenecks are removed,” the company’s statement said. 

 

Source: economictimes.indiatimes.com

 

 

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