Business News Update : JSPL’s steel production grows 18% y-o-y in February 2021

Insight Online News

New Delhi, March 12 : Private sector steel producer, Jindal Steel and Power Limited (JSPL), continued to report strong production and sales in February 2021.

The steel production in February 2021 increased by 18 per cent Year-over-Year (y-o-y) to 6.53 lakh tonne as compared to 5.54 lakh tonne in 2020.

The company also reported a 14 per cent y-o-y growth in shipments to 5.45 lakh tonne as compared to 4.8 lakh tonne in 2020.

While shipments were 6 per cent lower month-on-month (m-o-m) on a per day basis, shipments were 4 per cent higher m-o-m. The exports accounted for 26 per cent of the total sales volumes.

“We are on our path of continuous growth month after month and will enhance production further without any new Capital expenditure (CAPEX) in this financial year,” said V.R. Sharma, Managing Director, JSPL.

JSPL is an Indian infrastructure conglomerate with a presence in the steel, power and mining sectors. With an investment of nearly $12 billion (Rs 90,000 crore) across the globe, the company is continuously scaling its capacity utilisation and efficiencies to contribute towards building a ‘self-reliant’ or ‘Aatmanirbhar’ India.

IANS

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