RINL produces 5.03 lakh ton of value-added steel in Q1FY09

New Delhi, Jul 2 (UNI) Public sector Rashtriya Ispat Nigam Ltd (RINL), the flagship company of Vizag Steel, today said it has produced 5.03 lakh tonnes of value-added steel which constitutes 72 per cent of its production.

During April-June this year, the company has produced 5.03 lakh tonnes of value-added steel which is 72 per cent of its production of saleable steel of seven lakh tonnes, a statement said.

There is a growth of 43 per cent over the corresponding period last year.

The sale of value-added steel has been 4.4 lakh tonnes in the first quarter of the current fiscal (2008-09), as compared to 2.9 lakhs tonnes over the same period last year, registering a growth of 49 per cent.

The sales turnover during Q1 has been Rs 2,744 crore as compared to Rs 2,023 crore of corresponding period last year, registering a growth of 36 per cent, despite price stability exercised by RINL to control inflation as sought by the government, the statement added.

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