Jindal Steel & Power Limited (JSPL) continued to maintain strong momentum in sales and production despite subdued construction activities due to the ongoing monsoons in August. JSPL’s steel sales volume registered an increase of 6% M-o-M and 4% Y-o-Y to 7.1 lakh tonnes in August.
Meanwhile, exports continued to boost the steel giant’s sales efforts with its share increasing to 42% during the month.
Monthly production also rose 6% Y-o-Y to 6.6 lakh tonnes. Inventory levels continued to experience a downward trend as sales volume surpassed production for the second consecutive month.
JSPL Managing Director VR Sharma said, “JSPL is committed to achieving its yearly sales & production targets, we hope the domestic demand will rebound sharply once the monsoon season is over. The Government of India is pushing its infrastructure projects and this will help steel players to ride the growth momentum.”
JSPL is a leading Indian Infrastructure Conglomerate with a presence in the Steel, Power, and Mining sectors. With an investment of approximately 12 billion USD (90,000 Crore Rupees) across the globe, the Company is continuously scaling its capacity utilization
and efficiencies to contribute towards building a self-reliant India.