Jindal Steel and Power Limited (JSPL), is one of the India’s leading steel producer has recorded highest ever domestic quarterly crude steel output and sales during second quarter of FY’19 (Jul-Sep’18), as per press release by the company.
JSPL’s crude steel output stood at 1.3 MnT during Jul-Sep’18; surged by 46% Y-o-Y as against 0.89 MnT Jul-Sep’17. On quarterly basis company’s steel production was slightly up by 6% compared to 1.23 MnT in Q1 FY’19 (Apr-Jun’18).
Similarly, company’s domestic sales has shown significant growth of 53% to 1.27 MnT during Jul-Sep’18 as compared to previous fiscal year at 0.83 MnT Jul-Sep’17. Meanwhile on Q-o-Q basis, its sales was recorded marginal growth of 7%.
The superlative production and sales performance is a result of the recently commissioned 3.25 MTPA Basic Oxygen Furnace (BOF) at JSPL’s 6 MTPA integrated steel plant at Angul, Odisha”, Mr. NA Ansari, CEO – JSPL said. “Steel production and sales are generally lower during Q2 due to the monsoons. We are looking at enhancing the growth curve during Q3 and Q4 in order to set new records during this fiscal”, he added.
In FY 2017-18, JSPL had posted its highest ever revenues clocking INR 27,841 crore on back of highest ever steel production and sales. The growth curve started soon after the commissioning of the 4 MTPA Blast Furnace at Angul, followed by the 3.25 MTPA Basic Oxygen Furnace (BOF) which went operational towards the latter half of previous fiscal.
The company plans to ramp up its capacity utilization at Angul plant to 90% plus levels during the course of current fiscal.
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