RINL turnover grows 2% to Rs 11,766 cr till Feb 28 this fiscal

Tags: Petroleum
Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Vizag Steel, today said its turnover up to February 28 in the current fiscal recorded 2% growth to Rs 11,766 crore.

The PSU had clocked Rs 11,504 crore revenue for the 11 months period of last fiscal, 2012-13.

Exports recorded 72% growth at Rs 725 crore during the 11-month period compared to of Rs 421 crores for the same period last year, 2013-14.

According to a release issued by the steel maker, during February, it reported 11% and 20% growth in liquid steel and saleable steel production respectively compared to February 2013.

RINL CMD P Madhusudan called for greater commitment and coordinated efforts from employees for sustainable growth in the wake of low profit margins, the release added.

February also witnessed a growth of 5% in power generation thus reducing dependency on state grid.

The cumulative sales volume of saleable steel, special steel and wire rods registered a growth of 12%, 9% and 39% respectively, compared to the same period last year.

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