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Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) achieved growth of 12 per cent in finished steel production in the first half of the year, according to a press release.
On the sales front, the company recorded growth of 16 per cent with sales volume of 1.3 million tonnes during the first half of the year.
The sales turnover amounted to Rs 5,789 crore. The market continued to be sluggish during the current year, added the release. Exports in H1 were the highest since inception at Rs 348 crore, a growth of 63 per cent.
The company has taken advantage of the rupee depreciation by maximising exports. Special steel and wire rod sales grew 16 per cent and 63 per cent, respectively. RINL’s seven new branches are also getting stabilised to strengthen the marketing network in the country.
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