JSPL reports 12% rise (q-o-q) in Steel Sales in Q1FY21

Jindal Steel & Power Limited (JSPL) reports growth in its Standalone Steel Production and Sales during Q1 FY'21. The company recorded a 12% growth (q-o-q) in sales volumes and 8% rise (q-o-q) in standalone steel (incl. pig iron) production during Q1 FY'21.

The export sales contributed to 58% of total sales volumes in Q1 FY'21. Company's consolidated sales rises by 7% (Q-o-Q) during Q1 FY'21.

Key Highlights

- Ever Highest Monthly Steel (incl. pig iron) production of 626,000 tons in June 2020
- Ever Highest Quarterly Steel (incl. pig iron) production of 1,670,000 tons in Q1 FY'21
- Ever Highest Export Sales of 900,000 tons in Q1 FY'21
- Consolidated Steel (incl. pig iron) Sales rises by 7% Q-o-Q

"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.

"We believe in Indian growth story and continue to work to fulfil the dream of making India "Aatmanirbhar" by import substitution of value-added steel products catering to requirements of Indian Railways, Defense, Shipbuilding, Oil & Gas and others" Mr. Sharma further added.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.153.7 as compared to the previous close of Rs. 161.6. The total number of shares traded during the day was 2239943 in over 12960 trades.

The stock hit an intraday high of Rs. 163.45 and intraday low of 152.3. The net turnover during the day was Rs. 348497115.

Source : Equity Bulls

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