Jindal Steel reports highest ever production

Jindal Steel and Power Limited (JSPL) informed the bourses that it recorded the highest ever domestic quarterly steel production and sales in Q4FY19. During the March-ended quarter, the company reported a crude steel production of 1.51 million tonnes, this represents a 23 per cent growth from the last quarter of the same fiscal year. During the corresponding quarter of the previous year, JSPL had reported a steel production of around 1.26 million tonnes.

In terms of sales, the company clocked a sales volume of around 1.45 million tonnes, an increase of around 21 per cent from the previous quarter. The quarterly production and sales in Q4 of the previous fiscal stood at 1.26 MT and 1.18 MT respectively. In Q4FY18, the company had registered a sales volume of around 1.18 million tonnes.

The company’s management believes that with the ramp up in production at Angul, the company can further boost the growth momentum, both in terms of production and sales.

The stock of JSPL in Tuesday trading session was trading at flat. The stock which opened at Rs. 186.1 apiece touched an intraday high of Rs. 188.85 and at 15.08 hours the stock was trading at day Rs. 185.5 apiece, up by 1.6 per cent.