SAIL's January sales up 10% y-on-y at 1.14 mn tonne

January sales of flat steel products up 23.5%

Steel Authority of India sold 1.14 million tonne in January, up 10% from same period last year. Most products in the company's product basket witnessed considerable increase with sales of flat steel growing by 23.5% compared with same period last year, the company said in a release today.

"The uptrend in the first month of 2014 is a firm indicator of the times to come. We are confident of maintaining the momentum in sales growth, which will be supported by production of better and wider range of products like universal beam, wire rods and wider plates from the new state-of-the-art facilities coming up in phases," Chairman C S Verma was quoted as saying.

During Apr-Jan, SAIL’s sales rose 8% year-on-year to 9.84 million tonne backed by surge of 47% in its exports. In the flat steel segment, sales growth during Apr-Jan was up 10.6% from corresponding period last year.

SAIL’s units kept pace with aggressive sales strategy of the company and increased production of saleable steel by 4% in Apr-Jan to 10.74 million tonne.