Indian state-owned steelmaker Rashtriya Ispat Nigam Limited (RINL) has announced its financial results for the 2016-17 financial year, registering a turnover of INR 127.81 billion ($1.98 billion), up four percent year on year, despite the sluggishness in the infrastructure and construction sectors. In the given year, RINL’s export sales amounted to INR 10.48 billion ($162.44 million), while it recorded sales growth in all of its export markets.
In the 2016-17 financial year, RINL achieved growth of 11 percent in pig iron production, 10 percent in crude steel and 16 percent in finished steel output, all compared to the previous financial year.