The company is faced with spiralling interest burden and losses are expected to reach alarming proportions. Ambitious targetRINL, during just-concluded financial year, clocked a turnover of ₹15,800 crore by producing 4.98 million tonne liquid steel and around 4.46 million tonne saleable steel. The company has set an ambitious target of ₹25,000-crore turnover for 2019-20 after achieving a turnover of ₹20,844 crore during 2018-19. Sources say it will be the highest since RINL’s inception. The company did well in 2018-19 by earning a net profit of ₹97 crore after incurring a net loss of ₹1,421 crore in 2015-16, ₹1,236 crore in 2016-17 and ₹1,321 crore in 2017-18.

Source: The Hindu April 02, 2020 17:49 UTC