SAIL Posted Over 31.3% Growth in Sales

The Steel Authority of India Limited (SAIL) has registered a 31.3 per cent growth in sales during the July-September quarter as economic activity picked up in the country and work on infrastructure projects resumed.

Post the Covid-19 related lockdown, the company has been witnessing consistent improved sales performance with a pick up starting as early as in June. This has helped the company's first-half sales to bounce back to the levels achieved during the April-September period of 2019.

During the second quarter of FY21, SAIL also registered a 5.2 per cent growth in saleable steel production over the same period of the previous fiscal.

"The challenges during Covid-19 not only gave us an opportunity to test our resolve in the face of odds, but also made us more determined to perform better. Our focused strategies coupled with the zeal of the marketing team helped us leverage every single opportunity in the market," SAIL Chairman Anil Kumar Chaudhary said.

"Also, the pick-up in economic activities across sectors is enhancing the domestic steel demand. It is heartening that the company has returned to previous year's sales levels and is now focusing on ramping up production and sales further," he added.