BUSINESS

SAIL hopes to improve performance

NEW DELHI SEPT. 26. Steel Authority of India (SAIL) today said it hoped to close the year with improvements in its operational performance by six to seven per cent, led by strong demand.

Addressing the 31st annual general meeting here, V. S. Jain, Chairman, told shareholders that the company was continuing firmly on its turnaround path and that its basic policy would be to remain a leading domestic player while retaining thrust on exports.

Mr. Jain said that improvements initiated earlier would continue during the current year as well. He added that the company had recorded highest growth in production of salable steel at 4.37 million tonnes during the first five months. This reflected an average capacity utilisation of 103 per cent.

On the sales front, the company notched up figures of 4.1 million tonnes during April-August, a growth of 10 per cent over the corresponding period last year. This was inclusive of a 126 per cent improvement in exports. — PTI

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