JSPL reports 12 pc q-o-q rise in Q1 steel sales

New Delhi: Jindal Steel and Power Ltd (JSPL) said on Thursday it recorded 12 per cent quarter-on-quarter growth in sales volumes and 8 per cent rise in standalone steel (including pig iron) production during the first quarter of the current financial year.

The export sales contributed 58 per cent of total sales volumes in Q1 FY21.

The company’s consolidated sales rose by 7 per cent to 2.07 million tonnes in Q1 FY21 as compared to 1.93 million tonnes in Q4 FY20.

On a standalone basis, the sales jumped 12 per cent to 1.56 million tonnes in Q1 FY21 from 1.4 million tonnes in Q4 FY20.

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“In the last 100 days, JSPL exported more than one million tonnes of steel. This was possible with the consistent support of Indian Railways, port authorities and a slew of pro-industry measures taken by Ministry of Steel to reboot the economy,” said Managing Director V R Sharma.

“We believe in Indian growth story and continue to work to fulfill the dream of making India ‘aatma nirbhar’ by import substitution of value-added steel products catering to the requirements of Indian Railways, defence, shipbuilding, oil and gas and other sectors,” he said in a statement.

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

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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.

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