Jindal Steel & Power (JSPL) reported a 10% year on year increase in its steel production to 6.74 lakh tonnes in November 2021 compared to 6.14 lakh tonnes produced during the same period in the previous year.
The steel manufacturer said that its November 2021 steel sales were lower by 5% year on year at 5.39 lakh tonnes due to non-availability of Indian Railway rakes on demand. On a sequential basis, sales declined 9% from 5.93 lakh tonnes units sold in October 2021.We are gearing up to achieve our annual target of 8.0-8.2 Million tonnes of Steel production. We are confident we will achieve the overall targets, said Mr V R Sharma, Managing Director, JSPL in a statement.
JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.
On a consolidated basis, JSPL's net profit (from continued operations) jumped 188.08% to Rs 2,583.90 crore on a 67.04% surge in total revenue from operations to Rs 13,611.71 crore in Q2 FY22 over Q2 FY21.
Shares of JSPL were trading 1.9% higher at Rs 375 on BSE in early trade.
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