SAIL records 7% sales growth in Feb

The steel maker had clocked sales of 0.974 MT in the same month last year

State-run SAIL today said its sales grew by seven% in February to 1.04 million tonnes on higher off-take from domestic and export markets.

The country's largest steel maker had clocked sales of 0.974 MT (million tonnes) in the same month last year.

Production of sale-able steel in the reporting month also rose by seven% to 1.006 MT from 0.94 MT a year ago.

"For the cumulative 11-month period, SAIL's concerted effort in increasing domestic sales as well as exports paid off as these grew by 8% and 33% respectively," Steel Authority of India Ltd (SAIL) said in statement.

Cumulative sales during the April-February period rose to 10.877 MT from 10.068 MT in the corresponding period a year earlier. Exports grew to 0.427 MT from 0.320 MT a year ago.

"Consistent growth in sales over the last few months has given us the confidence of reporting a better outcome in the coming months, which will further pick-up with the expected strengthening of the market," SAIL Chairman C S Verma said.