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Jindal Steel and Power posts record sales, production numbers in December

Private steel maker Jindal Steel and Power Ltd (JSPL) on Monday posted a record 30 per cent jump in its standalone production and 25 per cent growth in sales during December 2020

Jindal Steel and Power Limited | India's steelmakers | Indian Economy

Press Trust of India  |  New Delhi 

Conserving cash is the mantra: Firms put capex plans on hold amid Covid-19
Steel coils

Private steel maker Jindal Steel and Power Ltd (JSPL) on Monday posted a record 30 per cent jump in its standalone production and 25 per cent growth in sales during December 2020.

The company's total production from its plants in India was at 7.27 lakh tonne (LT) in December, up from 5.59 LT during the same month in 2019, JSPL said in a statement.

During the month under review, its standalone sales were at 7.11 LT, as against 5.67 LT in December 2019.

On a month-on-month basis, the production at 7.27 LT was over 18 per cent higher from 6.14 LT in November 2020.

At 7.11 LT the sales in December 2020 were 26 per cent up compared to 5.65 LT in November 2020.

For October-December 2020, the company has posted 19.26 LT standalone production, up 20 per cent from 16.10 LT in the same period in 2019.

During the period under review, the sales were at 18.76 LT, registering a rise of 12 compared to 16.71 LT in October-December 2019.

In the statement, JSPL said the company recorded its highest ever production and sales numbers in December 2020, as well as in the October-December period.

"We are proud of our dedicated workforce who achieved such an extraordinary increase in the production with existing capacity by way of optimizing various operating parameters without any Capex. We will achieve even greater heights in times to come," JSPL Managing Director (MD) V R Sharma said.

Part of the OP Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, January 04 2021. 11:39 IST