RINL logs top performance in first four months of FY21
Not with standing their morale hit by firmness of the Central Government to go ahead with privatisation of Rashtriya Ispat Nigam Limited (RINL), its workforce has helped the company put up a phenomenal performance during the first four months of the financial year.
image for illustrative purpose
Visakhapatnam: Not with standing their morale hit by firmness of the Central Government to go ahead with privatisation of Rashtriya Ispat Nigam Limited (RINL), its workforce has helped the company put up a phenomenal performance during the first four months of the financial year. The company achieved a turnover of nearly Rs 8,000 crore in first four months.
RINL, the corporate entity of Visakhapatnam Steel Plant, with a capacity of 7.3 million tonnes, has put up an impressive performance, a series of tweets made by the company stated.
Several people including P Raychoudhary, who served as Director (Commercial) and CMD for a brief stint as additional charge, congratulated the management and the workforce for its performance. Some even said going by its performance, the Centre should reconsider its decision on 100 percent privatisation of RINL.
The company registered the highest-ever since inception in July. The monthly sales of saleable steel of 540.8 thousand tonnes also with a growth of 38 per cent more than 390.5 thousand tons CPLY. During April-July in FY22 the sales volume of 1,583 thousand tonnes registered a growth of 48 per cent against 1,068 thousand tonnes of CPLY.
Monthly export sales turnover clocked best ever figure of Rs 827 crore against previous best of Rs 636 crore achieved in September, 2020. An impressive growth of 121 per cent was registered in April-July sales turnover: Rs 7,958 crore against Rs 3607 crore of CPLY was a major milestone. Significant growth of 110 per cent was recorded in July: Rs 2,735 crore against Rs 1,301crore of CPLY was achieved.
