State-run steel maker Rashtriya Ispat Nigam's (RINL) sale dipped by 17% in the April-December period of the current fiscal despite a 3.9% rise in India's steel consumption during the period. Vizag-based company’s sales declined to 17.86 lakh tonnes compared to 21.63 lakh tonnes reported in the April-December period of the last fiscal.
Meanwhile, during the period, country’s steel consumption grew by 3.9% to 548 lakh tonnes, which could be dubbed as “subdued” in comparison with the entire last fiscal's consumption growth of 7%. During December also, RINL's sales came down to 2.51 lakh tonnes from 3.43 lakh tonnes in December, 2011. The sales realisation of RINL also fell during the month by 24.89% at Rs 1,147 crore against Rs 1,527 crore.
Rashtriya Ispat Nigam (RINL), also known as Vizag Steel, is an Indian government-owned steel producer. Based in Visakhapatnam, RINL has been awarded the Navaratna status, with accompanying autonomy of operations, due to its strong financial performance.
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