RINL, which runs the Vizag steel plant, recorded a growth of 7% in hot metal and 6% in liquid steel production during the first quarter of the current year. During the same period, production of saleable steel and iron registered a growth of 2% over previous corresponding period.

In terms of financials, RINL registered a 16% rise in its turnover to INR 3,000 crore in the first quarter. The growth in turnover was supported by 20% improvement in project sales, 42% improvement in by-product sales and also an improvement in value added steel sales during the quarter.

On the techno-economic front, RINL achieved a 22% reduction in water consumption through a series of water conversation measures.

Reacting to Q1 performance, Mr A P Choudhary CMD of the company complimented the RINL collective for achieving the growth in both turnover and production. He said the growth in the first quarter will set the tone for further growth in subsequent quarters of the current financial year 2012-13.

Source - Economic Times

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