Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, bagged the Steel Minister’s Trophy for its performance in the year 2009-10. This is the second time the company is bagging the trophy.
Union Minister for Steel Beni Prasad Verma handed over the trophy to Chairman and Managing Director of RINL AP Choudhary at a function organised in Jamshedpur to mark the 50th National Metallurgists’ Day on Friday. Secretary Steel D.R.S. Choudhary, and RINL Director (Operations) Umesh Chandra were also present.
The Company earned a net profit of Rs.797 crore for the year 2009-10.
Despite lower market net sales realisations, the sales turnover for the year 2009-10 was Rs.10,635 crore, the best ever sales turnover since inception till 2009-10. It also achieved a 20 per cent growth in the volume of sales. Apart from this, the RINL did well on many techno-economic parameters which helped it bag the trophy, according to a release issued here on Saturday.