SAIL crude steel output grows 8% in Q1; sales rise 24%

New Delhi, Jul 4 (PTI) State-owned SAIL on Tuesday reported an 8 per cent year-on-year growth in its crude steel production at 4.667 million tonnes (MT) during the first quarter of FY24.

During the April-June period, the company said its hot metal output rose 7 per cent year-on-year (y-o-y) to 5.037 MT and production of saleable steel grew to 4.405 MT, up 8 per cent from the first quarter of the preceding 2021-22 fiscal.

"SAIL clocks best ever Q1 in production and sales. The figures represent a remarkable growth," the steelmaker said in a statement. The company attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, posting a y-o-y rise of 24 per cent.

Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top three steel producing companies in India having an annual capacity of around 20 MT.