Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, registered a profit before tax of ₹835 crore, after a gap of six years.
Announcing the financial results here on Saturday, Chairman and Managing Director of VSP Atul Bhatt said that the 2021-22 financial year was good for the plant and it not only achieved a profit, but also recorded the highest ever sales of ₹28,082 crore and a gross margin of ₹3,575 crore.
He lauded the staff collective for achieving the best ever production figures in all the major production units.
Mr. Bhatt pointed out that despite severe financial stress, many flagship programmes could be undertaken under CSR and around ₹11 crore was spent in the areas of education, health care, skill development, rural development and Swachh Bharat.
He urged the staff to increase the PCI in all the three furnaces, optimise cost in all the areas, maximise power generation and minimise power imports, utilise metallurgical waste and usage of cheap alternative raw material, innovative cash management and capturing niche markets.
V.V. Venugopal Rao, Director (Finance); D.K. Mohanty, Director (Commercial) & Director (Personnel) additional charge; K.K. Ghosh, Director (Projects); A.K. Saxena, Director (Operations); K.V.N. Reddy, CVO, and other senior officers were present.
