JSPL shines after good monthly sales

Jindal Steel & Power rose 1.09% to Rs 209.25 at 13:06 IST on BSE after the company recorded highest ever first quarter domestic steel production during April - June 2018.

The announcement was made during market hours today, 3 July 2018.

Meanwhile, the S&P BSE Sensex was up 142.90 points or 0.41% at 35,407.31.

On the BSE, 5.64 lakh shares were traded on the counter so far as against average daily volumes of 6.66 lakh shares in the past two weeks. The stock had hit a high of Rs 212.75 and a low of Rs 204.90 so far during the day. The stock had hit a 52-week high of Rs 294.15 on 23 January 2018 and a 52-week low of Rs 112 on 11 August 2017.

The large-cap company has equity capital of Rs 96.79 crore. Face value per share is Re 1.

Jindal Steel and Power (JSPL) announced that the company has recorded highest ever first quarter domestic steel production during April - June 2018. The domestic crude steel production at JSPL's integrated steel plants at Angul and Raigarh during the quarter April - June 2018 clocked a record 1.23 million tonnes, i.e. a rise of 36% from 0.90 million tonne, a year ago.

JSPL also recorded a 46% growth in domestic sales during Q1 2018-19 to 1.18 million tonnes, up from 0.81 million tonne in Q1 of the previous fiscal. The 9 MTPA pellet plant also recorded its highest ever production during the month of June 2018, bettering all its previous records.

On the global front, Jindal Shadeed - JSPL's subsidiary in Oman, also recorded the best ever quarter in its history, clocking its highest ever crude as well as finished steel production and sales during April - June 2018.

JSPL reported consolidated net loss of Rs 424.69 crore in Q4 March 2018, higher than net loss of Rs 100.01 crore in Q4 March 2017. The company's net sales rose 39.93% to Rs 8522.79 crore in Q4 March 2018 over Q4 March 2017.

JSPL has a dominant presence in steel, power, mining and infrastructure sectors. It caters to markets across the steel value chain.

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