RINL posted a 34% jump in sales volume in Q1

KOLKATA: RINL, the corporate entity of Visakhapatnam Steel Plant posted a 34% jump in sales volume during the first quarter of 2015-16 on higher production volumes. Sales turnover crossed Rs 2,762 crore in April-June 2015 quarter with exports showing a significant three-fold rise to Rs 425 crore from Rs 147 crore in Q1 of last year.

On the production front, RINL posted its best ever performance with a 14% jump in saleable steel production in the first quarter of 2015-16. Production of Hot Metal and Liquid Steel went up 6% and 9% respectively compared to the previous corresponding quarter, while production of coke was up 5% during the period. RINL also reported an 18% growth in captive power generation.

P Madhusudan, chairman and managing director of RINL said early ramping up of production from expansion units is the company’s main focus area. This will help achieve economies of scale and realize the benefits of new technologies adopted in the plant. He also indicated that focus would also be on completion of the modernization programmes as per schedule for the units planned during the fiscal.