RINL reports 30% growth in turnover at Rs 11,405 crore in April-Dec 2017

RINL which runs the Visakhapatnam Steel Plant has reported a 30% growth in turnover to Rs 11,405 crore in April-December 2017 riding on higher production and sales during the period.

Production of hot metal went up to 3.65 million tonne (mt) showing a growth of 13% over previous corresponding period. RINL said its liquid steel output went up to 3.54 mt, posting a growth of 15%.

Saleable Steel production touched 3.19 mt, registering a 15% growth. RINL's labour productivity also showed a 16% growth during the period under review.

Speaking to employees on New Year 's Day RINL chairman P Madhusudan said that 2017 saw completion of expansion, modernization and taking the capacity to 7.3 mt per annum and he stressed the need to enhance the volumes to improve the bottom-line.

Complimenting RINL's marketing department for achieving a sales volume of one million tonne during November & December 2017 and a turnover of over Rs 2,000 crore in December 2017, he exhorted them to tailor the company's marketing strategy to increase net sales realization.

He said that RINL had no borrowings during November and December 2017 and it clearly indicates that the company is poised to record its best ever performance during the last quarter of the current fiscal.