JSPL gains after sales rise 35% YoY in Jan

Jindal Steel & Power (JSPL) rose 2.10% to Rs 316.35 after the company said its sales jumped 35% year-on-year (y-o-y) to 5.8 lakh tonnes in January 2021.

JSPL's monthly production jumped 80% y-o-y in January 2021 to 6.9 lakh tonnes. Higher production also helped JSPL post a 35% growth y-o-y in shipments to 5.8 lakh tonnes. Shipments were however lower by 18.31% quarter-on-quarter (q-o-q) as JSPL continued to focus on value over volumes.

Thanks to an outstanding, committed workforce, we have posted good numbers in a challenging environment. With the country getting back to normalcy, we will only do better. We'll double our efforts towards rebuilding the economy and the nation, said JSPL MD V R Sharma.

 

JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.

The company's consolidated net profit stood at Rs 2,566.68 crore in Q3 December 2020 compared with net loss of Rs 218.57 crore in Q3 December 2019.

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