JSPL domestic production up 16% in the 2nd Quarter

New Delhi : Naveen Jindal controlled Jindal Steel and Power (JSPL) has registered a 16 per cent rise in production in Q2FY20to 1.58 million tonnes in its domestic operations. The company’s sales have increased by 10 per cent to 1.46 million tonnes during the same quarter. The quarterly production and sales of steel & related products stood at 1.36 MT and 1.32 MT respectively in the same period last year.

“This has been one of the best quarters for JSPL on the back of strong operating and market performance” said V R Sharma, MD, 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.”

“Now our top priority is to take EBITDA to over 12, 000 crores per year on a consolidated basis and reduce net debt by more than Rs.10,000 crores to below Rs. 30000 crores over the next two years.” He added.

“We are hopeful that at the end of the year we will be able to close the same at around Rs 34,000 crore.” Mr. Sharma reiterates.