Jindal Steel & Power posts 27% MoM growth in steel sales in Dec'21

Jindal Steel & Power reported steel sales of 6.85 lakh tonnes in December 2021, recording a growth of 27% M-o-M. The company'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 1.82 MT in Q3 FY22 were also constrained due to limited rake availability and unseasonal rains in several states. Exports accounted for 28% steel sales in December 2021 and 23% for the quarter.

The company reported steel production of 5.904 million in the last 9 months of this financial year, which is a 9% rise compared to last year for the same period.

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