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JSPL Q2 Sales up by 10%

Steel News - Published on Wed, 09 Oct 2019

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Jindal Steel & Power Limited registered a 16% rise in production in Q2FY20 to 1.58 million tonnes in its domestic operations, with sales increasing by 10% to 1.46 million tonnes during the same quarter. The quarterly production and sales of steel & related products stood at 1.36 million tonnes and 1.32 million tonnes respectively in the same period last year. Mr V R Sharma MD of JSPL said “This has been one of the best quarters for JSPL on the back of strong operating and market performance. The company is on track to deliver its highest ever volumes this year and with the ramp up in production at Angul, we are confident of further accelerating the growth momentum in terms of production and sales."

He added that "Now our top priority is to take EBITDA to over 12,000 crores per year on a consolidated basis and reduce net debt by more than INR 10,000 crores to below INR 30000 crores over the next two years."

Mr Sharma reiterated that "We are hopeful that at the end of the year we will be able to close the same at around INR 34,000 crore."

Source :

Posted By : Ratan Singh on Wed, 09 Oct 2019
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