JSPL's best is yet to come over rising steel output and pricing environment

Strong oversees performance amid favourable demand and pricing environment will drive earnings

The performance of Jindal Steel and Power (JSPL) continues to show improvement, led primarily by the steel segment. For the December 2017 quarter (Q3), even as domestic performance improved, the strong showing in its Oman operations pushed up overall numbers. The power segment also saw some improvement, with the start of coal mining at Wollongong in Australia. Further ramp-up of production at its Mozambique mines adds to the good news.

Overall consolidated sales at Rs 69.04 billion, up 14 per cent sequentially and 21 per cent over a year; better than the Bloomberg consensus estimate of Rs 66.3 billion. Earnings