JSPL steel production jumps 31% to 13.7 lakh tonnes
PremiumJindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May
The Jindal Steel and Power Ltd (JSPL) has reported 31 per cent Y-o-Y (year-on-year) rise in its steel production to 13.71 lakh tonnes during April and May.
The steel major company reported total production of 6.81 lakh tonnes in April and 6.9 lakh tonnes in May as compared to 10.44 lakh tonnes in the same period last year.
MORE FROM THIS SECTIONSee All
Steel sales of the company also jumped by 7 per cent to 10.58 lakh tonnes (April sales 5.59 lakh tonnes and May sales 4.99 lakh tonnes).
However, slowdown in domestic construction activities due to Covid-19 and logistical challenges faced owing to congestion at ports due to adverse weather conditions resulted in sales growth lagging production growth.
JSPL said it continues to take measures to offset the impact of slowdown in domestic demand by exporting in lucrative global markets.
The exports accounted for 21 per cent of sales volumes in April with the share rising further to 36 per cent in May.
To support government efforts in combating the pandemic, the company has supplied 3,500 tonnes of liquid medical oxygen.
JSPL is also running a 300 beds modern hospital in Raigarh and a newly-built intensive Covid care centre at Angul in Odisha.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!