Indian steelmaker Jindal Steel and Power Ltd (JSPL) has issued its consolidated financial results for the financial year 2016-17 ended March 31.
In the given financial year, JSPL registered a net loss of INR 25.4 billion ($391.48 million), compared to a net loss of INR 30.86 billion in the previous financial year. JSPL’s sales revenues totaled INR 226.96 billion ($3.43 billion), rising by 11 percent year on year, while its EBITDA rose to INR 46.58 billion ($717.95 million), compared to the EBITDA of INR 34.37 billion recorded in the previous year.
According to JSPL's statement, during the year in question its steel production increased by six percent to 4.80 million mt, while its steel sales rose by seven percent to 4.66 million mt, both compared to the previous financial year.
JSPL stated that it aims to increase its production by nearly 50 percent during the current financial year of 2017-18. Besides launching a major marketing thrust in the domestic market, the company is also targeting to export over a million mt of steel and two million mt of pellets during the new financial year.