"RINL sold about 2 lakh tonnes of steel with a growth of 19 percent during July, 20113 and a cumulative growth of 4 percent during April-July, 2013," the Vizag-based steel maker said in a statement.
Also read: JSW Steel's flat steel production down 2% in April-June
Value-added products, which generates better revenue than traditional products for the same quantity, clocked a better sales for the month as well as for the first four-month period of the current fiscal.
"Value added steel recorded a growth of 21 percent in July with a cumulative growth of 10 percent during April-July period of the cyrrent fiscal compared to a year earlier," it said. The company clocked seven percent higher revenue in July, but the cumulative revenue during the four-month period was lower by 10 percent. RINL attributed this to "sluggish market" conditions.
Liquid steel production of the company grew by five percent during July; while saleable steel output during the first four months grew by 9 percent over a year ago.
"The power generation also increased by 4 percent during the month and with that RINL has been able to meet over 90 percent of its monthly requirement of power from captive
sources," it said.
Hoping that the "market is set to rebound particularly for long products with the recent government announcement towards bringing newer infrastructure products," RINL CMD A P Choudhary said RINL is fully geared up to supply additional volume of such products to meet the market demand.
RINL has started seven new Marketing Contact Offices (MCO) in the country at Trichy, Raipur, Ranchi, Allahabad, Siliguri, Jammu and Panaji. With this the total number of RINL's outlets across the country becomes 30, it said.
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