JSPL steel production rises 9 per cent to 5.9 million tonnes in April-Dec 2021

Jindal Steel and Power Limited (JSPL) said on Tuesday its steel production rose to 5.90 million tonnes during April-December 2021, which is 9 per cent higher than the output recorded in the corresponding period of previous year.

"We are happy to share that we have been able to achieve production growth of 9 per cent in the first 9 months of FY 2022 and have achieved 8 MTPA for the first time in a calendar year," Managing Director of JSPL V R Sharma said in a statement.

The company targets to produce 8 to 8.2 million tonnes of steel during the current financial year. "We are confident that in this financial year we will be able to achieve our guidance of 8-8.2 MTPA," Sharma said.

During October-December quarter of the current financial year, JSPL produced 1.96 million tonnes of steel. During the same quarter, the company sold 1.82 million tonnes of steel.

The company said its sales during the third quarter of the current financial year were constrained due to limited rake availability and unseasonal rains in several states.

JSPL reported steel sales of 6.85 lakh tonnes in December 2021, registering month-on-month growth of 27 per cent.

Exports accounted for 28 per cent of steel sales in December 2021 and 23 per cent for the October-December 2021 quarter.

( With inputs from ANI )