Vizag steel posts 10% growth in domestic sales

Visakhapatnam Steel Plant (VSP) registered a 10 per cent and a 46 per cent growth in domestic sales and exports respectively during the first half of the current fiscal as compared to the last fiscal's corresponding period.

VSP's sales touched Rs 3,737 crore in the first half of the current fiscal as compared to Rs 3,358 crore in the corresponding period of the last fiscal, thus posting a growth of 11 per cent.

Of the total turnover, the plant's domestic sales, including by-products, touched Rs 3,598 crore as compared to Rs 3,263 crore in the previous year, reflecting a growth of 10 per cent.

On the exports front, VSP registered a 46 per cent growth during the first six months of the current fiscal. In the first half of the current year, its exports rose to Rs 139 crore as compared to Rs 95 crore in the previous year.

On the productivity front, VSP achieved 271 tonnes per man year during the first six months of the current fiscal as compared to 254 tonnes per man year during the corresponding period of the last fiscal.