Steel PSU records 8% sales growth; production up 21%

RINL registered a turnover of Rs.8636 crore during the first nine months of the current financial year. This includes export sales of Rs.935 crores The Dollar Business Bureau

For its contribution to the country’s exports, RINL also bagged the “Star Performer Award” for 2013-14 for the second time in a row

State-run Rashtriya Ispat Nigam Limited (RINL) — the corporate entity of Visakhapatnam Steel Plant— registered its best ever performance in production and sales including exports during April-December, 2015 despite volatile market conditions. RINL, one of the navratna public sector units, registered a growth of 8% by achieving a turnover of Rs.8636 crore during the first nine months of the current financial year. This includes export sales of Rs.935 crores, representing an impressive growth of 28%. The total sales value in December of Rs.1617 crores, with the sale of 5 lakh tonnes, is the highest for the last month of any year. “On production front, RINL achieved an impressive growth of 21% in saleable steel production during April-December 2015 over CPLY. In several other areas also growth was recorded such as blast furnace productivity, specific water consumption, labour productivity, etc. during the period,” a government statement said. The company also recorded best quarterly performance in production of sinter, liquid steel, wire rod production etc. For its contribution to the country’s exports, RINL also bagged the “Star Performer Award” for 2013-14 for the second time in a row. P Madhusudan, Chairman and Managing Director, RINL, termed 2016 a “very promising year” and expressed confidence in achieving the targets set for the new year, saying, ramping up of production from the new units would be the focus area.

January 06, 2016 | 05:21pm IST

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The Dollar Business Bureau - Jan 06, 2016 11:50 IST

Steel PSU records 8% sales growth; production up 21%

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