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Rashtriya Ispat Nigam Ltd has registered growth of three per cent during 2014-15 in steel production, despite the havoc caused by the Hudhud cyclone, it was stated at the annual general meeting held here.
P Madhusudan, Chairman and Managing Director, who chaired the meeting said the operations were normalised quickly after the havoc wrought by the Hudhud cyclone in October last year.
The import of steel from China increased considerably during the second half of the fiscal, impacting product price realisations.
The increase in imports from China during the fiscal was 202 per cent in the non-flat category (longs) and RINL being an exclusive long steel producer was affected, with the margins and profits declining sharply in H2.
The company registered a turnover of ₹11,665 crore with a PAT of ₹62 crore during the year.
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