Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Vizag Steel, said on Tuesday that it has surpassed the sales target by achieving a turnover of Rs 6,807 crore during April-October, 2013 against Rs 6,736 crore in the corresponding period a year ago.
Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Vizag Steel, said on Tuesday that it has surpassed the sales target by achieving a turnover of Rs 6,807 crore during April-October, 2013 against Rs 6,736 crore in the corresponding period a year ago.
Sales turnover in October was at Rs 1,033 crore, 7 per cent higher from that registered in October, 2012, the company said in a statement. Iron and steel sales during the period recorded a growth of 11 per cent.
"The saleable steel sales registered a growth of 14 per cent. The exports represent a whopping growth of 108 per cent with a value of Rs 446 crore against Rs 214 crore (last year)," it said.
On the production front, RINL recorded a cumulative growth of 3 per cent, despite several constraints in the month of October such as indefinite strike call by the Andhra Pradesh government employees, the unprecedented long incessant rains which forced the PSU to curtail production as an abundant precaution during the cyclones.
Meanwhile, RINL said the "first heat" from the New Steel Melt Shop-2 was tapped successfully on October 30 which marks the completion of 6.3 mtpa expansion.
RINL CMD A P Choudhary expressed confidence that the finished products will be rolled out shortly with the commissioning of the finishing area of the state-of-the-art wire rod mill.
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