New Delhi, April 1 (IANS): Public sector giant Steel Authority of India Limited (SAIL), has recorded a 7 per cent rise in saleable steel output to a record level of 18.4 million tonnes for the financial year ended on March 31, 2024 as compared to 2022-23, according to an official statement issued on Monday.

The company also achieved its highest-ever sales volume of 17.1 million tonnes during 2023-24, registering a growth of more than 5 per cent over the previous year.

SAIL also recorded a 6 per cent surge in hot metal production and a 5 per cent increase in crude steel output for the fiscal year 2023-24. The steel behemoth achieved record production figures of 20.5 million tonnes (MT) of hot metal and 19.2 MT of crude steel during the financial year.

SAIL chairman Amarendu Prakash attributed this outstanding performance to the company's strategic alignment with the increasing demand in the steel market.

He emphasised SAIL's commitment to enhance the company’s production capabilities further while remaining responsive to the changing market requirements.