In the latest press release, the company’s crude steel and sales volume reported an increase on a quarterly basis. The details are mentioned below:
Company’s crude steel output rose by 8%- As per the latest press release, the company has reported its highest quarterly crude steel production stood at 1.67 mn t in Q1FY’21 increased by 8% against 1.54 mn t in the previous quarter.
Meanwhile, on a monthly basis, the company has also reported its highest monthly crude steel production at 0.626 mn t in Jun’20 which was 0.620 mn t in May’20.
Company’s sales volume increases by 12%-The sales figures are aggregated to 1.56 mn t in Q1, up by 12% over 1.40 mn t in Q4FY’20.
Also in May’20, JSPL recorded a 28% growth on yearly basis in monthly steel sales volumes with the revival of domestic demand.
Below mentioned are the reasons for the better performance during the quarter-
* Decent export bookings- The manufacturer has booked decent exports during the quarter, hitting an all-time high volume at 0.9 mn t amid subdued domestic demand along with the impetus provided by the Ministry of Steel to revive the economy. The export sales contributed to 58% of total sales volumes in Q1 FY’21.
* Gradual increase in production- With the easing of lockdown restrictions on the manufacturing industries, the manufacturer has gradually increased production since mid-Apr’20.
“In last 100 days JSPL exported more than one million tons, this was possible with the consistent support of Indian Railways, port authorities and a slew of pro-industry measures taken by Ministry of Steel to reboot the economy,” said Mr. VR Sharma, Managing Director, JSPL
Leave a Reply