JSPL: A power-packed performance

Strong steel show, rebound in power segment buoy overall numbers

Jindal Steel and Power (JSPL) has reported a sharp improvement in its operating performance for the June quarter (Q1), driven by the steel and power businesses, amid the goods and services tax- (GST) led destocking that restricted steel volumes. A turnaround in the power business, led by a robust seasonal merchant demand, drove the overall growth and profitability.

The standalone steel business (domestic operations, excluding Oman) witnessed a four per cent year-on-year (y-o-y) improvement in sales volume at 0.81 million tonnes (mt), a little lower than analysts’ expectations of 0.85 mt. However, an increasing share of value-added products and better