![SAIL declares financial results for Q1 FY’24](https://www.psuconnect.in/sdsdsd/SAIL_declares_financial_results_for_Q1_FY24.jpg)
New Delhi: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter ending 30th June 2023.
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 |
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 : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh