India: RINL posts huge growth in steel sales in Q1 FY’22

State-owned steelmaker, RINL, has released Q1 FY’22 results. Highlights:

• Saleable steel production was recorded at 1.23 mn t, a growth of 98% against 626,000 t in the corresponding period last year (CPLY).
• Saleable steel sales totalled 1.04 mn t during the period, an increase of 54% y-o-y compared with 678,000 t in CPLY.
• Saleable steel sales in the domestic market stood at 743,000 t, up 103% against 367,000 t in CPLY.