JSPL’s steel production rose by 80pc in January to 690,000mt from a year ago with sales up by 35pc amid robust domestic demand, according to the company’s release.
Compared to December, production and sales declined by 5pc and 18pc, respectively. The company attributed lower shipments to increased focus on value over volumes and is optimistic better sales as the domestic economy continues to recover.
Operational highlights of Jindal Shadeed are excluded from the production numbers as the Oman plant is under sale.
In Q3, JSPL’s consolidated revenues rose by 40pc from a year ago. Standalone steel production increased by 20pc to 1.93mn mt from the prior year quarter, while during the nine-months production rose by 14pc to 5.43mn mt.