India’s Jindal Steel and Power Limited (JSPL) has issued its financial and operational results for the financial year 2020-21 ended March 31.
The company reported a net profit of INR 55.27 billion ($754.16 million) for the given financial year, compared to a net loss of INR 5.74 billion in the previous financial year.
JSPL’s net sales revenues in the financial year totaled INR 389.89 billion ($5.32 billion), rising by 13.7 percent year on year, while its EBITDA rose to INR 144.44 billion ($1.97 billion), compared to the EBITDA of INR 68.15 billion recorded in the previous year.
In the financial year 2020-21, the company produced 7.51 million mt of steel, up by 19.2 percent, while its steel sales totaled 7.28 million mt, increasing by 20.1 percent, both year on year. The company’s exports in the given period accounted for 35 percent of its overall sales, compared to 13 percent in the previous financial year.
The company stated that it plans to double its steelmaking capacity at Angul, Odisha, to an annual 12 million mt from the current six million mt per year.