SAIL reports increase in its sales

Wednesday, 14 July 2004 10:13:00 (GMT+3)   |  
       

SAIL reports increase in its sales

Indian steel producer Steel Authority of India Ltd (SAIL) has recently announced that it has achieved record levels in its sales in the first quarter, ended on June 30, 2004. During the aforementioned period, SAIL sold 1.6 million tons of finished steel products, which indicates a rise of 9% when compared with the sales recorded in the corresponding period of previous fiscal year. The increase in sales is highly related with the demand in domestic market and SAIL's improved product mix. As previously reported by SteelOrbis, SAIL had to reduce its exports by 66% as the government suspended Duty Entitlement Pass Book (DEPB) incentives to provide availability of steel in domestic market. Although the exports of the company decreased, thanks to domestic demand, SAIL has reported increase in its sales.

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