JSPL’s Steel Production Grew 16% To 1.58 Million Tonnes In July-September
A ladle drops scrap steel into a furnace at the steel melting shop at a factory in Hisar, Haryana, India. (Photographer: Udit Kulshrestha/Bloomberg) 

JSPL’s Steel Production Grew 16% To 1.58 Million Tonnes In July-September

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Jindal Steel & Power Ltd.'s domestic steel production rose 16 percent to 1.58 million tonnes during July-September 2019 from 1.36 million MT in the year-ago period.

Sales during the third quarter of 2019-20 were 10 percent higher year-on-year at 1.46 million tonne, JSPL said in an exchange filing on Monday.

"This has been one of the best quarters for JSPL on the back of strong operating and market performance,” said VR Sharma, managing director at JSPL.

“The company is on track to deliver its highest ever volumes this year and with the ramp up in production at Angul, we are confident of further accelerating the growth momentum in terms of production and sales,"

JSPL’s priority is to take its earnings before interest, tax, depreciation and amortisation to over Rs 12,000 crore per year on a consolidated basis and reduce net debt by more than Rs 10,000 crore to a level below Rs 30,000 crore in the next two years.

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