India’s Jindal Steel and Power Limited (JSPL) recorded its highest-ever quarterly production of crude steel and related products in the October-December quarter of 2019, at 1.61 million mt, up 22 percent from the corresponding quarter of the previous year, a company spokesperson said on Friday, January 3.
In the October-December quarter last year, JSPL achieved total sales of finished steel of 1.66 million mt, recording a growth of 30 percent year on year, while export shipments during the quarter amounted to 300,000 mt, an increase of 213 percent over the corresponding period of the previous year, the spokesperson said.
“JSPL delivered a solid performance during the third quarter and the results have been essentially in line with our expectations, despite adverse market conditions when total domestic growth of the steel industry during November 2019 was recorded at a negative 3.4 percent,” V R Sharma, managing director of JSPL said.
“We are going to start our DRI-CGP (goal gasification plant) at Angul in Odisha in eastern India this month and, together with a favorable product mix, we expect to further drive growth in sales and profits,” he added.