Jindal Steel & Power (JSPL) on Friday (3 April 2020) said consolidated production grew 12% to 8.17 metric tonnes (MT) in FY 2019-20 over 7.30 metric tonnes (MT) in FY 2018-19.
JSPL registered a 10% jump in consolidated sales to 7.92 metric tonnes (MT) in FY 2019-20 over 7.22 metric tonnes (MT) in FY 2018-19.Domestic sales grew 12% to 6.04 metric tonnes (MT) in FY 2019-20 from 5.41 metric tonnes (MT) in FY 2018-19. Domestic steel production jumped 13% to 6.30 metric tonnes (MT) in FY 2019-20 as against 5.59 metric tonnes (MT) in FY 2018-19.
JSIS Oman sales rose 4% to 1.88 metric tonnes (MT) in FY 2019-20 over 1.81 metric tonnes (MT) in FY 2018-19. The JSIS Oman Steel production rose 9% to 1.87 metric tonnes (MT) in FY 2019-20 as compared to 5.59 metric tonnes (MT) in FY 2018-19.
JSPL's major steel production units in Raigarh, Angul & Oman recorded its highest ever production & sales of steel & related products.
JSPL operates India's only private sector Rail mill, which has also received approval from Research Designs & Standards Organisation (RDSO) recently for the supply of extremely sophisticated head hardened rail (1080 HH grade). The rail mill has produced 5.7 lakh tonnes during FY 2019-20. Plate Mill in Raigarh also achieved its highest ever production at 9.47 lakh tonnes during the FY 2019-20 by surpassing the previous 8.40 lakh tonnes during FY 2018-19.
JSPL reported a consolidated net loss of Rs 224.28 crore in Q3 December 2019 compared with net loss of Rs 24.05 crore in Q3 December 2018. Net sales slipped 2.78% to Rs 9,299.78 crore in Q3 December 2019 over Q3 December 2018.
JSPL's segments majorly include iron & steel and power. It is also engaged in aviation services and machinery division. The company's product portfolio consists of steel product mix, construction solutions, and construction material and solutions.
Shares of JSPL declined 2.20% to Rs 68.80. The scrip hovered in the range of Rs 66.90 to Rs 74.80 so far.
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