SAIL declares financial results for Q1 FY’24

New Delhi: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter ending 30th June 2023. 
 

Read Also : DVC Observes birth anniversary of Netaji Subhash Chandra Bose

Key highlights:

 

Performance of Q1 FY 24 (Standalone) at a glance:

	Unit	Q1 22-23	Q4 22-23	Q1 23-24
Crude Steel Production	Million Tonne	4.33	4.95	4.67
Sales Volume	Million Tonne	3.15	4.68	3.88
Revenue from Operations	Rs. Crore	24,029	29,131	24,358
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)	Rs. Crore	2,606	3,401	2,090
Profit Before Tax (PBT)	Rs. Crore	1,038	1,480	202
Profit After Tax (PAT)	Rs. Crore	776	1,049	150

Read Also : Bank of Baroda signs MoU with South Central Railway

Best ever Q1 performance has been achieved by the company with respect to Productions and Sales. The Company has registered a growth in the Crude Steel Production and Sales Volumes by 8% and 23% respectively over CPLY. Despite increase in volumes, the turnover has increased by 1% due to decline in price realization. 

With the coking coal prices stabilizing and market outlook positive for sustained consumption growth in the country, margins are likely to improve going forward. The Company is also taking up debottlenecking and efficiency improvement projects to shore up the profitability in the medium term. 

Read Also : Bank of Baroda Reaches Over 348,000 Farmers Nationwide Through Baroda Kisan Pakhwada