Vizag steel plant nets Rs.835 cr profit

Visakhapatnam: RINL-Visakhapatnam steel plant has achieved profit before tax (PBT) of Rs. 835 crore with a scintillating turnaround performance during 2021-22, according to its Chairman and Managing Director Atul Bhatt. He disclosed this while addressing senior officials and representatives of various unions at a function organized at MP Hall of Ukkunagaram club, here on Saturday. […]

Visakhapatnam: RINL-Visakhapatnam steel plant has achieved profit before tax (PBT) of Rs. 835 crore with a scintillating turnaround performance during 2021-22, according to its Chairman and Managing Director Atul Bhatt.

He disclosed this while addressing senior officials and representatives of various unions at a function organized at MP Hall of Ukkunagaram club, here on Saturday.

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He lauded the collective for achieving the best ever sales turnover of Rs. 28082 crore which is 35% higher than the previous best. “The remarkable performance by the collective enabled RINL to achieve turnaround in 2021-22 which led to register a Profit Before Tax of Rs. 835 crore, after a gap of six years and the estimated Gross Margin of Rs.3,575 crore which is also the best for any year, since inception”, he stated.

Atul Bhatt lauded the works collective for achieving best ever production figures in all major production units during the just concluded fiscal, 2021-22 by achieving 5.77 Mt (million tons), 5.52 Mt, 5.27 Mt, 5.14 of Hot Metal, liquid steel, crude steel, saleable steel, respectively, which was the highest since inception.

In spite of severe financial stress, many flagship programmes could be undertaken under CSR and around Rs. 11 crore was spent in the areas of Education, Health Care, Skill Development, Rural Development and Swachh Bharat, he added.

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