JSPL December sales up 27% despite non-availability on railway rakes

Biznextindia : Naveen Jindal-led Jindal Steel and Power (JSPL) has reported 9% (Year on Year) rise in steel production at 5.9 MTPA in the first 9 months (April-December)  of 2021-22 financial year. In the 2021 calendar year, the company has reported a steel production of 8 MTPA.

The company posted a strong recovery in Steel sales sequentially in December 2021. The company reported steel sales of 6.85 lakh tonnes, up 27% M-o-M. JSPL’s Steel sales would have been higher but for the impact of the non-availability of railway rakes for the third consecutive month. Steel sales of 1.82MT in Q3FY22 were also constrained due to limited rake availability and unseasonal rains in several states. Exports accounted for 28% of Steel sales in December 2021 and 23% for the quarter.

“We are happy to share that we have been able to achieve production growth of 9% in the first 9 months of FY 22 and have achieved 8 MTPA for the first time in a calendar year. We are confident that in this financial year we will be 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 Mr. V R Sharma, Managing Director, JSPL in a statement.