Steel Authority of India (SAIL), the country’s largest steel producer, has reported a sales growth of 15% in Q2 of FY’14 with total steel sales reaching 3.015 million tonnes (MT), as against 2.616 MT in the corresponding quarter of last year.
Despite the market slowdown and almost flat steel consumption in the country, the sales turnover of the company at Rs 12,802 crores was up 7% in Q2 of FY’14. The growth in sales turnover would have been higher but for the subdued market conditions which resulted in a decline of 6% in the net sales realization (NSR) in the July-Sept’13 quarter.
The 2nd quarter production in the current fiscal at 3.26 MT of saleable steel by SAIL was up 3% over corresponding period last year (CPLY). Production of value added steel in Q2 at 1.33MT, recorded a y-o-y growth of 4%.
