SAIL Q3 FY17 gross turnover grows by over 25% -Governance Now

SAIL Q3 FY17 gross turnover grows by over 25%

Improved sales volume across all products gave a boost to SAIL’s turnover in Q3 FY17 which got increased by 25.8 pc at Rs 12,490 cr compared to last year

GN Bureau | February 13, 2017

#SAIL #Bhilai Steel Plant #PSU

Steel authority of India ltd. (SAIL) registered an increase in total sales by 16 per cent and 12.5 per cent for the April-December (9M) period and quarter third (Q3) of 2016-17 fiscal with 9.66 million tonnes (MT) and 3.27 MT of saleable steel respectively over the corresponding period of last year.

The Maharatna PSU also posted highest ever 9M saleable steel production at 10.2 MT witnessing a growth of 16.5 per cent and 9.2 per cent growth in Q3 FY17 over last year. The growth in production and sales is driven by an all-round improvement strategy of the top management by strengthening the entire value chain, a SAIL release stated. During the 9M period, exports volume considerably rose and more than tripled as compared to the corresponding period of last year.

Owing to the improved sales volume across all products, SAIL’s gross turnover in Q3 FY17 was higher by 25.8 per cent at Rs 12,490 crores as compared to the last year’s same period.

Realising the crucial challenges faced by the steel industry and rising domestic competition, SAIL has already commenced the supply of long rails from its 1.2 MTPA new universal rail mill, Bhilai. The enterprise is in its final leg of finishing remaining modernisation projects, ramping up production from new mills and achieving its rated capacity soon.

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