Vizag Steel's 9-month sales turnover up 30% at Rs 114 bn

Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Vizag Steel, informed that it has achieved a 30 per cent growth in turnover for the nine-month period ending December 2017.

The company sales volume touched 1 million tonnes worth Rs 20 billion just in November and December months and this has helped the company to reach a total turnover of Rs 114.05 billion in first three-quarters of the current fiscal, according to RINL chairman and managing director P Madhusudan.

The year 2017 saw the completion of the expansion, modernisation and taking the capacity to 7.3 million tonnes per annum.

"RINL has achieved gross margin and there were no borrowings during November and December months and it clearly indicates that the company is all set to record best ever performance during the last quarter of the current financial year," Madhusudan said.