SAIL crude steel output grows 8% in Q1; sales rise 24%

New Delhi: State-owned Steel Authority of India (SAIL) on Tuesday reported an 8 percent year-on-year growth in its crude steel production at 4.667 million tonnes (MT) during the first quarter of FY’24.

During the April-June period, the company said its hot metal output rose 7 percent year-on-year (y-o-y) to 5.037 MT and production of saleable steel grew to 4.405 MT, up 8 per cent from the first quarter of the preceding 2021-22 fiscal.

"SAIL clocks best ever Q1 in production and sales. The figures represent a remarkable growth," the steel maker said in a statement.

The company attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, posting a y-o-y rise of 24 percent.

SAIL, under the Ministry of Steel, is among the top three steel producing companies in India having an annual capacity of around 20 MT.

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