SAIL registers 21% growth in sales, production goes up by 14% in October 2020

New Delhi: Maharatna Steel PSU Steel Authority of India Limited (SAIL) on Wednesday announced its monthly performance for the month of October 2020. During the month the company has posted an impressive growth of 21 percent in sales over the corresponding period of last year (CPLY).

During this month, the company's domestic sales and exports were at 1.341 Million Tonnes (MT) against 1.113 MT CPLY. This is the best ever October sales performance of the company. The crude steel production and the saleable steel production also grew substantially by 14 percent and stood at 1.446 MT and 1.347 MT respectively during the month over CPLY. The company has been improving its sales performance since June 2020 and scaling up its production consistently to meet the increased requirement of the domestic as well as the export market.

ALSO READ: SAIL registers more than 31% growth in sales in Q2 over CPLY

Commenting on the record performance of the month, SAIL's Chairman Anil Kumar Chaudhary said, "The company is continually posting strong sales performance from June onwards. The company is determined to continue this growth streak. The production is also being continuously scaled up to reach higher than the pre-COVID levels. The domestic steel industry has started echoing the positive sentiments of the economy." 

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)