State-run Steel Authority of India Ltd (SAIL) ended the second quarter of the present financial year with sales of 3.17 million tonnes due to a boost in demand from construction and manufacturing sectors. During the same period last year, sales were 3.08 mt.
This is the “best ever Q2 sales”, according to the company, which has an annual production capacity of about 14 mt. During July-September, it sold 850,000 tonnes of special & value-added steel products, growth of 10.1 per cent over the corresponding period last year.
“Sales growth in Q2 was mainly due to higher intake by the construction and manufacturing sectors. In comparison to sales in the previous quarter, (we) achieved growth of 30.8 per cent,” the company said. The sale of wire rods during the period increased by 60 per cent, compared to the corresponding period last year, besides higher sales of other products like bars, sheets and coils.
