VSP records ₹18,000 cr. turnover for 2020-21
The Hindu
March sales highest since RINL’s inception, ₹740 crore profit in last 4 months
Amidst an agitation taken up by the employees of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, against the proposed 100% strategic sale of the plant, RINL has registered a strong performance by recording a sales turnover of around ₹18,000 crore for the financial year ending 2020-21, which is said to be the second highest since its inception. It also recorded an impressive growth of 13% and the sales volumes reached 4.45 million tonnes, with a growth of about 4%. The company also registered a net profit of about ₹740 crore in the last four months, but the annual figure is yet to be arrived at, after calculating the losses it made during the peak COVID-19 period. Addressing the officers here on Thursday, Chairman and Managing Director of VSP P.K. Rath said that the steel maker had achieved a sales of ₹3,300 crore and sales volume of 7.11 million tonnes in March alone.
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