JSPL steel production jumps 31% to 13.7 lakh tonnes during April and May

Jindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May.

The production totalled 6.81 lakh tonnes in April and 6.9 lakh tonnes in May as compared to 10.44 lakh tonnes in the same period last year.

Steel sales also increased by 7 per cent to 10.58 lakh tonnes (April 5.59 lakh tonnes and May 4.99 lakh tonnes).

However, slowdown in domestic construction activities due to Covid-19 and logistical challenges faced owing to congestion at ports due to adverse weather conditions resulted in sales growth lagging production growth.

JSPL said it continues to take measures to offset the impact of slowdown in domestic demand by exporting in lucrative global markets.

The exports accounted for 21 per cent of sales volumes in April with the share rising further to 36 per cent in May.

To support government efforts in combating the pandemic, the company has supplied 3,500 tonnes of liquid medical oxygen.

JSPL is also running a 300 beds modern hospital in Raigarh and a newly-built intensive Covid care centre at Angul in Odisha.