Posted: Posted Date – 7:15 PM, Sat – Apr 9, 22
Visakhapatnam: RINL-Visakhapatnam steel mill has made a profit before tax (PBT) of Rs. 835 crore with a scintillating turnaround performance in 2021-22, according to its chairman and managing director Atul Bhatt.
He revealed this while addressing senior government officials and representatives of various unions at a reception held at the Ukkunagaram club’s MP Hall here on Saturday.
He praised the collective for achieving the best revenue of Rs. 28,082 crore, which is 35% more than the previous best. “The remarkable performance of the collective has enabled RINL to achieve a turnaround in 2021-22, which has led to recording a pre-tax profit of Rs. 835 crore, after a gap of six years and the estimated gross margin of Rs. 3,575 crore which is also the best for any year, since its inception,” he said.
Atul Bhatt praised the corporate collective for achieving the best production figures ever across all major production units in the just-ended 2021-22 fiscal year reaching 5.77 Mt (million tonnes ), 5.52 Mt, 5.27 Mt, 5.14 of Hot Metal, Liquid Steel, Crude Steel, Marketable Steel, respectively, which was the highest since inception.
Despite severe financial difficulties, many flagship programs could be undertaken under CSR and around Rs. 11 crores were spent on education, healthcare, skills development, rural development and Swachh Bharat, he added.
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