SAIL Q3 Results: Shares surges over 3% as revenue increases 4.9% at Rs 24,490 crore

For the third quarter ending December 31, 2024, state-owned steel manufacturer Steel Authority of India Ltd. reported a 66.5% year-over-year (YoY) drop in net profit at Rs 141.9 crore. According to a regulatory filing, the Steel Authority of India reported a net profit of Rs 422.9 crore for the equivalent quarter of the previous fiscal year.

Operational revenue for the company climbed 4.9% to Rs 24,489.9 crore from Rs 23,348.6 crore during the same period of the previous fiscal year. Operating-wise, EBITDA decreased 5.3% to Rs 2,029.6 crore in the third quarter of this fiscal year compared to Rs 2,142.5 crore in the same time last fiscal year.

EBITDA margin stood at 8.3% in the reporting quarter as compared to 9.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel

Read Also : Goa Shipyard Limited (GSL) has a vacancy for the position of Director (Finance)

Amarendu Prakash, SAIL Chairman, said, "In the face of a challenging steel market characterized by declining prices and an influx of cheap imports, SAIL has managed to achieve better EBITDA during the Q3FY25 compared to the corresponding period last year.

We remain steadfast in our commitment to boost production and enhance cost efficiency, while simultaneously further exploring and adopting greener technologies. We expect that with appropriate interventions, the issue of cheap imports will be addressed and the government's drive on infrastructure development will bode well for the domestic steel industry while driving the demand further."

Read Also : SJVN has signed a power purchase agreement with Datta Power Infra