Business News | JSPL Steel Sales Up 6 Pc to 7.1 Lakh Tonnes in Aug

New Delhi [India], September 7 (ANI): Jindal Steel and Power Ltd (JSPL) said on Tuesday it maintained strong momentum in August with steel sales volume increasing by 6 per cent month-on-month and 4 per cent year-on-year to 7.1 lakh tonnes.

This was despite subdued construction activities due to the ongoing monsoons.

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Exports continue to boost JSPL's sales efforts as its share increased to 42 per cent during the month. Monthly production also rose 6 per cent year-on-year to 6.6 lakh tonnes.

Inventory levels continue to decline as sales volume surpass production for the second consecutive month.

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"JSPL is committed to achieving its yearly sales and production targets as we hope domestic demand will rebound sharply once the monsoon season is over," said Managing Director V R Sharma.

"The government is pushing its infrastructure projects and this will help steel players to ride the growth momentum," he said in a statement.

JSPL is an industrial powerhouse with a dominant presence in the steel, power, mining and infrastructure sectors.

Having an investment of USD 12 billion across the globe, the company is continuously scaling its capacity utilisation and efficiencies to capture opportunities for building a self-reliant India. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)