JSPL reports steel sales of 6.85 lakh tonnes in December, sequential growth of 27%

4 Jan 2022 , 02:38 PM

Jindal Steel & Power Limited (JSPL) posted a strong recovery in steel sales sequentially in December 2021. The company reported steel sales of 6.85 lakh tonnes, rising 27% month on month. JSPL said steel sales would have been higher but for the impact of the non-availability of railway rakes for a third consecutive month.

Steel sales of 1.82 MT in Q3FY22 were also constrained due to limited rake availability and unseasonal rains in many states. Exports accounted for 28% of steel sales in December 2021 and 23% of the quarter.

Jindal Steel reported 9% rise in steel production at 5.904 million tonnes in nine months ended of FY22.

V R Sharma, managing director of JSPL said, “We are happy to share that we have been able to achieve production growth of 9% in the first nine months of FY22 and achieved 8 MTPA for the first time in calendar year. We are confident that in the financial year we will able to achieve guidance of 8-8.2 MTPA.”

At around 2.42 pm, Jindal Steel & Power Ltd was trading at Rs386.20 per piece up by Rs0.85 or 0.22% from its previous closing of Rs385.35 per piece on the BSE.