Jindal Steel and Power’s (JSPL) steel production rose by 22pc to 1.61mn mt in the third quarter (Oct-Dec) from 1.32mn mt in the prior year. The company’s Angul, Odisha plant contributed significantly to production growth.
JSPL’s crude steel sales in the December quarter was 1.66mn mt, up by 30pc from 1.27mn mt in the prior year. Exports exceeded by 300,000mt during the quarter, up by 213pc from the prior year.
The company’s DRI-CGP (Coal Gasification plant) unit at Angul is scheduled to start this month and improve it’s product mix and sales, according to the company’s release.
Steel production at Jindal Shadeed, Oman was up by 10pc at 0.50mn mt, while steel sales were up by 27pc to 0.57mn mt.
Seasonally, the December quarter is challenging for the steel industry. India’s core sector output in November was down by 1.5pc and steel output was down by 3.7pc in November from the previous month, according to official data.