Jindal Steel and Power Ltd said on Thursday its sales in July spiked up 5 percent year-on-year and 21 percent month-on-month to 6.7 lakh tonnes. The sales had totaled 6.4 lakh tonnes during the same month of the previous year. At the same time, monthly steel production was 6.5 lakh tonnes, up 8 percent as analyzed to 6.03 lakh tonnes in July last year. Exports are valued for more than 40 percent of total sales volumes due to high spot demand from international markets.

"Despite the second wave of Covid related disruptions, we are on track to achieve our annual target of 8.25 million tonnes for FY22," said Managing Director V R Sharma. "The effective vaccination campaign driven by the government will encourage workers to return to construction sites and help speed up manufacturing, which will likely boost domestic demand," he said in a statement.

JSPL is an industrial powerhouse with a domineering 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 utilization and capabilities to capture opportunities for building a self-reliant India.

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