SAIL posts 16% sales growth In August 2013

KOLKATA: Steel Authority of India Limited ( SAIL) registered a 16% growth in sales during the month of August '13 over sales in same period last year. Despite a slowdown in the steel market, the PSU steel major sold 10.86 lakh tonnes of steel products as compared to 9.38 lakh tonnes in corresponding period last year ( CPLY).

In a statement issued on Monday, SAIL said its rise in sales was mainly on account of increase in flat product sales, which went up by 26%. While long products saw a growth of 3%, retail sales at 53,800 tonnes in the month were up by 62% on a month-to-month basis. Concerted efforts to harness the rising dollar materialized in a significant growth in exports to a level of 31,000 tonnes, a CPLY growth of 36%. For the five month duration of April-August '13, the cumulative steel sales stood at 47.8 lakh tonnes, a growth of 7% over CPLY.