JSPL steel sales total 6.7 lakh tonnes in July

Jindal Steel and Power Ltd (JSPL) said on Thursday its sales in July were up 5 per cent year-on-year and 21 per cent month-on-month to 6.7 lakh tonnes.

The sales had totalled 6.4 lakh tonnes during the same month of previous year.

At the same time, monthly steel production was 6.5 lakh tonnes, up 8 per cent as compared to 6.03 lakh tonnes in July last year.

Exports accounted for more than 40 per cent of total sales volumes due to high spot demand from international markets.

"Despite second wave of Covid related disruptions, we are on track to achieve our annual target of 8.25 million tonnes for FY22," said Managing Director V R Sharma.

"The effective vaccination campaign driven by the government will encourage workers to return to construction sites and help speed up manufacturing, which will likely boost domestic demand," he said in a statement.

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

Having an investment of USD 12 billion across the globe, the company is continuously scaling its capacity utilisation and efficiencies to capture opportunities for building a self-reliant India.

( With inputs from ANI )