New Delhi: Leading steel major and part of the OP Jindal Group, Jindal Steel and Power Limited (JSPL) has posted its highest ever domestic quarterly steel production and sales in Q2 FY 2018-19. The company recorded a crude steel production of 1.3 MT (Million Tonnes) and robust sales of 1.27 MT during the quarter July – September 2018. The quarterly steel production saw a 46% growth during Q2 FY 2019, while the quarterly steel sales have registered a growth of 53% on a year-on-year basis. The quarterly production and sales in Q2 of previous fiscal stood at 0.89 MT and 0.83 MT respectively.
In FY 2017-18, JSPL had posted its highest ever revenues clocking Rs. 27,841 crore on back of highest ever steel production and sales. The growth curve started soon after the commissioning of the 4 MTPA Blast Furnace at Angul, followed by the 3.25 MTPA Basic Oxygen Furnace (BOF) which went operational towards the latter half of previous fiscal. The company plans to ramp up its capacity utilization at Angul plant to 90% plus levels during the course of current fiscal.
“The superlative production and sales performance is a result of the recently commissioned 3.25 MTPA Basic Oxygen Furnace (BOF) at JSPL’s 6 MTPA integrated steel plant at Angul, Odisha. Steel production and sales are generally lower during Q2 due to the monsoons. We are looking at enhancing the growth curve during Q3 and Q4 in order to set new records during this fiscal”, Mr. NA Ansari, CEO – JSPL said.