Indian JSPL sales rebound in 1st fiscal quarter
16 Aug 2019 14:36 reported by Alston Tsai
Indian Jindal Steel & Power Ltd. (JSPL), one of the leading steel companies in India, had eased its cost pressure with gradual demand recovery as the Indian government began to boost market liquidity and to take protective measures against import steels with low-priced into the domestic market.
JSPL's sales volume in the first fiscal quarter increased by 16% year on year, achieving around 1.5 million tons, mainly due to great sales of steel rails, while crude steel capacity increased by 20% year on year to 1.46 million tons.
In the first fiscal quarter, the revenue of JSPL increased by 5% year on year to around Rs 710 billion, mainly due to booming sales of value-added steel products.
JSPL mentioned that in the long run, the Indian government spending on infrastructure, real estate, railways, and water resources projects would increase the local steel demand while increasing spending to stimulate consumption growth.
However, Indian construction activity had been stagnant in the rainy season during recent months, and it has gradually resumed operation.
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