SAIL's total sales increases by 50% to 1.58 million tonnes in July

State-owned SAIL on Tuesday said its total sales grew by about 50 per cent on year to 15.83 lakh tonnes (LT) during July 2020.

The company had registered sale of 10.59 LT steel during the same month last year, Steel Authority of India Ltd (SAIL) said in a statement.

"SAIL attained a sales volume of 15.83 LT in July 2020 which is its best ever performance in the month of July and an impressive growth of about 50 per cent over July 2019 sales which was 10.59 LT," it said.

The company sold 12.73 LT steel in domestic market and exported 3.10 LT steel in July, a growth of 29 per cent and 349 per cent, respectively, over the year-ago month.

"SAIL is working hard to improve the overall performance. The efforts being put in have started showing in these record sales numbers, reduced inventory, improved collections and reduced borrowings," the company's chairman Anil Kumar Chaudhary said.

"SAIL is focused on reducing on its borrowings further towards meeting the expectation of all our stakeholders," he added.

SAIL, under the administrative control of Ministry of Steel, is the country's largest steel maker.