SAIL's Diwali Fireworks: Cost Control Lifts Sales 20% To 7.52 Million Tonnes

SAIL's Diwali Fireworks: Cost Control Lifts Sales 20% To 7.52 Million Tonnes
New Delhi: Cost optimisation, modernisation and expansion measures at SAIL are beginning to pay off, with the country's largest steelmaker posting a 20 per cent growth in sales during April-October this fiscal.

The Maharatna firm's consolidated sales rose 20 per cent to 7.52 million tonnes (mt) during the first seven months in 2016-17, the company said.

SAIL Chairman PK Singh said: "The management's sustained emphasis to improve every process from production up to reaching the consumers is beginning to show results."

The stabilisation of new mills under the modernisation programme has also contributed to the improved volumes and sales, he added.

"All this would strengthen state-run firm's performance at a time when there is a pick-up in activities of steel intensive sectors. Also, the positive environment brought in by Government of India, including its competitive trade policies and measures, has helped improve market sentiment," he said.

Newsbeep

During April-October, domestic sales went up by 15 per cent with improvement in both long and flat products, it said, adding that exports volumes also rose by more than three times backed by a conscious strategy of the company to expand its footprint in neighboring markets.

On the production front, the April-October period clocked better performance with 22 per cent growth in saleable steel production compared with the corresponding period last year.

The techno-economic parameters also registered an uptick with 7 per cent improvement in BF (blast furnace) productivity and 3 per cent improvement in coke rate, SAIL added.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)