JSPL Apr-Jun steel output up 17% as Angul ramps up

JSPL Angul

Jindal Steel & Power Limited reported a 17% year-on-year jump in its steel output for the three months from April to June, 2109.

This compares to a 20% jump seen in the previous quarter.

JSPL produced 1.57 million tons of steel and steel products during the quarter, slightly higher than the 1.51 millon tons reported for the preceding Jan-Mar quarter.

For the Apr-Jun quarter, sales was at 1.51 million tons, compared to 1.45 MT in the preceding quarter. Year on year, sales was up 16% on year in the first quarter of this year.

The company’s steel production is on the up due to higher capacity coming online at its production plant in Angul in Odisha, where it has India’s largest blast furnace.

JSPL is a part of the USD 22 billion diversified O. P. Jindal Group. It operates in core infrastructure sectors including steel, power, mining and infrastructure.

JSPL, counted among the lowest-cost producers of steel and power in India, has factories in Chhattisgarh, Odisha and Jharkhand.

The company also operates the world’s first DRI or direct reduced iron plant based on Indian High Ash Coal Gasification technology.