Steel:  JSPL’s standalone production rises by 15% (YoY) in November 2020

Steel: JSPL’s standalone production rises by 15% (YoY) in November 2020

New Delhi, December 12, 2020

Steel manufacturer Jindal Steel & Power Limited (JSPL) has reported a 15 per cent year-on-year (YoY) growth in standalone steel production in November 2020 at 614,000 tonnes as compared to 533,000 tonnes during the same month of the previous year.

A press release from the company said its standalone sales also rose to 562,000 tonnes in November this year as compared to 557,000 tonnes in the same period of the previous year.

At 119,000 tonnes, exports contributed to 21% of total sales volumes in November 2020, the release said. The company’s exports grew at a rate of 10% (Y-o-Y) in November 2020.

“Our performance is in line with the India growth story. Domestic steel demand is rising in H2 FY 21 and so is JSPL’s production. With domestic markets recovering, the company is focusing more on value-added products. We believe the company’s portfolio will witness further strength in the Q3 and Q4 of the financial year,” said V R Sharma, Managing Director, JSPL.

NNN

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