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JSPL clocks 29 pc hike in July steel sales to 6.37 lakh tonnes

ANI | August 04, 2020 10:41 AM
JSPL is a part of the $22 billion diversified O P Jindal Group.

New Delhi [India], Aug 4 (ANI): Jindal Steel and Power Ltd (JSPL) on Tuesday reported 29 per cent rise in standalone steel sales during July to 6.37 lakh tonnes as compared to 4.93 lakh tonnes in the same month of the previous year.

The export sales contributed 2.5 lakh tonnes or 39 per cent of sales last month. The company said consolidated steel sales rose by 25 per cent year-on-year to 7.62 lakh tonnes as compared to 6.11 lakh tonnes in July 2019.

The standalone steel production increased by 13 per cent to 6.03 lakh tonnes while consolidated steel production too increased by 13 per cent y-o-y to 7.4 lakh tonnes in the same period.

JSIS Oman recorded 11 per cent increase in production to 1.37 lakh tonnes while sales volumes rose by 6 per cent to 1.25 lakh tonnes.

JSPL Managing Director V R Sharma said India Inc is getting back to normalcy amid the COVID-19 crisis as companies mend supply chains, get more workers back on the job and steel demand increases.

In addition to the first-ever domestic order of head hardened rails of 3,000 tonnes from Rail Vikas Nigam Ltd (Kolkata Metro), he said, JSPL has bagged orders from Pune Metro (3,000 tonnes) and Konkan Railway (1,960 tonnes).

JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.

Having an investment of 12 billion dollars across the globe, the company says it is continuously scaling its capacity utilisation and efficiencies to capture opportunities for building a self-reliant India. (ANI)

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