New Delhi: Steel Authority of India Limited (SAIL), a Maharatna PSU under the Ministry of Steel, has announced its financial results for the second quarter of the current financial year (Q2 FY'2020-21), from July-September 2020. During the period the steel giant has registered an impressive 31.3 percent growth in sales over the corresponding period of last financial year (Q2 FY'2019-20).
Post the COVID-19 related lockdown, the company has been witnessing an impressive sales performance which started in June 2020. This has led to the company's H1 sales of FY 2020-21 bounce back to the levels achieved during the corresponding period of last year. During the Q2 of FY'2020-21, the saleable steel production also registered a growth of 5.2 percent over CPLY. The company's strategic marketing efforts and customer-centric initiatives coupled with teamwork across the company, has contributed to this improvement in sales and production.
SAIL's Chairman Anil Kumar Chaudhary commented, "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 zeal of the marketing team helped to leverage every single opportunity in the market. Also, the pick-up in the economic activities across sectors is enhancing the domestic steel demand. It is heartening that the company has returned to the previous year's sales level and is now focusing on ramping up production and sales further."
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