India: JSPL reports 80% y-o-y production surge in Jan '21

India's leading steel mill-Jindal Steel & Power Limited (JSPL) posts impressive growth numbers in production and sales in Jan '21 on the back of robust domestic demand, SteelMint learned from the recent press release in BSE.

Major highlights are:

1.Company posts 80% y-o-y surge in production-On a yearly basis, JSPL's production increased by 80% in Jan '21 to 0.69 mn t against 0.38 mn t in Jan '20. Meanwhile, on a monthly basis, the company registered a 5% decline against 0.73 mn t in Dec '20.

2.Company's sales jump by 35% y-o-y-The company’s sales volume rose to 0.58 mn t in Jan '21, up 35% y-o-y compared to 0.43 mn t in the year-ago period.

The company’s production and sales were driven by robust demand from white goods, infra and construction sectors along with increased deliveries to railway projects.

However, on a monthly basis the same went down by 18% m-o-m against 0.71 mn t in Dec '20.

"Thanks to an outstanding, committed workforce, we have posted good numbers in a challenging environment. With the country getting back to normalcy, we will only do better. We’ll double our efforts towards rebuilding the economy and the nation,"said JSPL MD V R Sharma.