SAIL Q1FY25 results, net profit declines by 61.5% YoY

State-owned Steel Authority of India Ltd (SAIL) has reported a 61.5% YoY decline in net profit at Rs 81.8 crore for the first quarter that ended June 30, 2024.

The company's revenue from operations dipped 1.5% to Rs 23,997.8 crore against Rs 24,359 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA surged 34.6% to Rs 2,200 crore in the first quarter of this fiscal over Rs 1,649 crore in the corresponding period in the previous fiscal year.

The EBITDA margin stood at 9.3% in the reporting quarter versus 6.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

During Q1 FY'25, the Company’s EBITDA grew by more than 15% over the corresponding period last year (CPLY), indicating its steady core performance.

However, revenue from operations was affected by a decline in Net Sales Realization (NSR)in the domestic steel market due to cheap imports. The profit for Q1 FY'25 was impacted by lower NSR and adjustments related to exceptional items.