VISAKHAPATNAM: After a gap of six years, Visakhapatnam Steel Plant, which has been facing privatisation threat, has achieved a profit before tax (PBT) of Rs 835 crore in the 2021-22 financial year.
Rashtriya Ispat Nigam Ltd (RINL) CMD Atul Bhatt described 2021-22 as a year of turnaround for RINL. The CMD lauded the RINL collective for achieving the best ever sales turnover of Rs 28,082 crore, which is 35 per cent higher than the previous best.
The plant also achieved the best ever production figures in all major production units during the 2021-22 fiscal by achieving 5.77 MT (million tons), 5.52 MT, 5.27 MT, 5.14 MT of hot metal, liquid steel, crude steel, saleable steel, respectively, which was the highest since inception.
RINL registered the best ever sales performance since inception with a record sales turnover of Rs 28,008 crore, which is 56 per cent higher than that in the previous year.
Addressing senior officials and representatives of various unions on Saturday, the CMD said, "The remarkable performance by the collective enabled RINL to achieve the turnaround. In spite of severe financial stress, many flagship programmes could be undertaken under CSR and around Rs 11 crore was spent in the areas of education, health care, skill development."