Leading infrastructure company Jindal Steel & Power Limited (JSPL) has set a record of 2.13 million tonnes in the July-September quarter of the 2021-22 financial year. The company has filed a regulation in the stock market that its steel sales volumes increased by 32 per cent and 10 per cent in the second quarter of the current financial year.
In the September quarter, sales of Jindal Steel reached two million tonnes for the first time in a given quarter. The company’s exports grew by more than 40 percent in the second quarter — up 34 percent in the previous April-June quarter and 38 percent in the previous year.
The company’s steel production also increased to 1.93 million tonnes in the July-September quarter, registering a growth of five per cent per annum. According to Jindal Steel, the volume of inventory declined as sales in September 2021 were higher than production for the third consecutive month.
One of our Australian coking coal mines is operational and we expect the first shipment on November 21st. This will significantly reduce our coking coal dependence. JSPL has been selected by the Government of Odisha as the preferred bidder for the Kasia (Odisha) Iron Ore Mining, which will further enhance our raw material security, ”said Mr. VR Sharma, Managing Director, Jindal Steel and Power.
Shares of Jindal Steel traded down 2.02 per cent at Rs. Was 412.65. Jindal Steel trades at Rs. Opened at 424.50 and has so far traded at Rs. 427.55 Intra Day High and Rs. 409.70 intraday low.