Jindal Steel Jul-Sep sales up 10%, production rises 16% y-o-y1 min read . Updated: 07 Oct 2019, 11:42 AM IST
- Sales came at 1.46 mt and production at 1.58 mt SPL registered a 16% rise in production
- The company aims to top ₹12,000 crore in consolidated Ebitda and bring its net debt down by more than ₹10,000 crore
New Delhi: Jindal Steel and Power Ltd on Monday said its July-September sales and production had risen 10% and 16% year-on-year (y-o-y), respectively. Sales came at 1.46 million tonne (mt) and production at 1.58 mt SPL registered a 16% rise in production in Q2FY20 to 1.58 million tonnes in its domestic operations, with sales increasing by 10% to 1.46 million tonnes during the same quarter.
The quarterly sales and production of steel and related products stood at 1.32 mt and 1.36 mt, respectively in the same period last year.
"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," a company press release quoted the company’s Managing Director V.R. Sharma as saying.
The company aims to top ₹12,000 crore in consolidated earnings before interest, tax, depreciation and amortization and bring its net debt down by more than ₹10,000 crore to below ₹30,000 crore over the next two years.
"We are hopeful that at the end of the year we will be able to close the same at around ₹34,000 crore," the release quoted Sharma as saying.