The Business Bytes
TBB BUREAU
NEW DELHI, JUNE 8, 2021
Private steel behemoth Jindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May 2021.
The total production in April was 6.81 lakh tonnes and 6.9 lakh tonnes in May as compared to 10.44 lakh tonnes in the same period in the previous year.
Steel sales also increased by 7 per cent to 10.58 lakh tonnes (April 5.59 lakh tonnes and May 4.99 lakh tonnes).
However, slowdown in domestic construction activities due to Covid-19 and logistical challenges faced owing to congestion at ports resulted in sales growth lagging production growth.
JSPL said it continues to take measures to offset the impact of Covid-induced slowdown in domestic demand by exporting to global markets.
The exports accounted for 21 per cent of sales volumes in April with the share rising further to 36 per cent in May this year, the company said.
As a responsible corporate citizen JSPL has been supporting government efforts in combating the Covid pandemic. It has supplied 3,500 tonnes of liquid medical oxygen so far.
The steel major is also running a 300-bed modern hospital in Raigarh and a newly-built intensive Covid Care Centre at Angul in Odisha.
