JSPL steel production jumps 31% to 13.7 lakh tonnes during April and May

Jun 9,2021

Jindal Steel and Power Ltd (JSPL) has reported a 31 percent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May.

The production totaled 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.

Steel sales also increased by 7 percent to 10.58 lakh tonnes (April 5.59 lakh tonnes and May 4.99 lakh tonnes).

However, the 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.

Jindal Steel and Power Ltd said it continues to take measures to offset the impact of the slowdown in domestic demand by exporting in lucrative global markets.

The exports accounted for 21 percent of sales volumes in April with the share rising further to 36 percent in May.

To support government efforts in combating the pandemic, the company has supplied 3,500 tonnes of liquid medical oxygen.

Jindal Steel and Power Ltd is also running a 300 beds modern hospital in Raigarh and a newly-built intensive Covid care center at Angul in Odisha.

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