May 12, 2021 The Jindal Steel & Power Ltd plant in Raigarh, Chhattisgargh - Bloomberg× Buoyed by upcycle in global steel prices After six years in the red, Jindal Steel and Power Ltd (JSPL) on Wednesday said it has closed the financial year 2020-21 with a net profit of ₹5,527 crore. The strong rebound in bottomline has been aided by the ongoing upcycle in global steel prices, which is reflected in the uptrend in domestic prices as well. In the previous financial year, JSPL had reported ₹ 574 crore net loss. The firm’s annual production of steel including pig iron rose 19 per cent year-on-year to 7.51 million tonnes, while the production of pellets rose by 6.6 per cent to 7.28 million tonnes, JSPL said in a statement.