VSP ACHIEVES ALL ROUND GROWTH
Vishakhapatnam Steel
Plant (VSP) of the Rashtriya Ispat Nigam Ltd. (RINL), a public
sector unit of the Steel Ministry has achieved all round growth
in physical, financial, marketing and techno economic performances
during the first half of this fiscal. In most areas best ever
performances have been achieved since inception. The company achieved
a gross margin of Rs. 733 crore, cash profit of Rs. 691 crore
and net profit of Rs. 465 crore during these six months which
is the best financial performance for any half year since inception.
It achieved a sales turnover of Rs. 2605 crore with a growth of
27 per cent over the same period last year. This information was
given by the CMD, VSP, Shri B.K.Panda in the performance review
meeting taken by the Minister of Steel, Shri Braja Kishore Tripathy
here today.
Shri Panda said
that the hot metal, liquid steel and saleable steel production
during the period achieved growth rate of 7,5 and 4 per cent respectively
over the corresponding period last year. This recorded an improvement
of 8, 8 and 10 per cent respectively over their corresponding
MoU targets. The company achieved best ever techno-economic indices
during the period.
The Minister
congratulated the VSP collective for their achievement and said
that the tempo of progress should be retained to face the global
competition. He asked the company to reduce the coke rate to benchmark
level to keep up profitability as it is an expensive raw material.
He asked the RINL authorities to chart the way ahead so that future
performance is not limited by technology and capacity constraints.
He desired that the construction of 4th coke oven battery
should be taken immediately on receipt of approval of CCEA and
it should be commissioned before the existing coke over batteries
are taken out for repairs.
