SAIL logs Rs 343 cr loss in Q2 PSU NEWS

 

SAIL logs Rs 343 cr loss in Q2

 

NEW DELHI. The country's largest steel maker SAIL on November 14 posted a loss of Rs 342.84 crore for the July-September quarter of the current fiscal due to demand contraction and moderation in prices.
 
The steel PSU had posted a standalone profit of Rs 553.69 crore in the second quarter of the previous fiscal. ncome during the second quarter declined to Rs 14,286.18 crore, from Rs 16,832.37 crore in the year-ago period, SAIL said in a regulatory filing.
 
Total expenses also fell to Rs 14,809.21 crore during the quarter from Rs 15,950.21 crore in the corresponding quarter of the previous fiscal.The second quarter result was affected by a lot of factors on both domestic and global fronts, SAIL chairman Anil Kumar Chaudhary said. It is common knowledge that several steel consuming sectors including auto, infrastructure and manufacturing did not perform well in the said quarter,
 
At the same time, the prices have also faced continuing downward pressure. This has reflected in the results, he said. "During the period, the company has undertaken several measures for cost reduction across the organisation. The measures include improving operational efficiency through better techno-economic performances, better utilization of raw materials and improving revenue generation through other means," he said.


Posted Date :  15-11-19

Categories : PSU NEWS

Tag Cloud: PSU NEWS

Similar news

AAI strictly towards the social distancing priority is safety

Port Blair: Airports Authority of India providing the passengers full-fledged services and security in the airports while keeping the social distancing norms in mind. The AAI ’s Port Blair Airport Security Hold Area (SHA) has been extended to accommodate more numbers of passengers keeping s
Posted Date :  23-10-20

Read more

Chairman of SAIL addressed at the 48th Annual General Meeting

New Delhi: The Chairman SAIL, Shri Anil Kumar Chaudhary Addressed at the 48th Annual General Meeting of SAIL. The meeting was held through video conferencing and attended by the Director (Commercial) Smt. Soma Mondal and Company Secretary Shri M B Balakrishnan.    Addressing the
Posted Date :  22-10-20

Read more

Felicitation Ceremony at Coal India Limited Headquarter

Kolkata: Shri. Pramod Agrawal, Chairman, Coal India Limited felicitates Shri. T. Padmanabhan, Dy. Manager (Secretarial) and Shri. Krunal Rajendra Sonawane, Asst. Manager - E&T both posted in the Chairman’s secretariat at CIL Hq.   Shri. Padmanabhan was presented with a cert
Posted Date :  22-10-20

Read more

AAI Pune Airport to get new terminal building with enhanced capacity

Pune: In order to cater the continuous surge in passenger traffic and ease congestion at the airport, AAI has undertaken the construction work for a New Integrated Terminal Building at Pune Airport. With massive built up area of more than 5,00,000 sq. ft., the new terminal will be constructed at
Posted Date :  21-10-20

Read more

Virtual Meet between India Singapore Defence Industry

The Department of Defence Production India held a virtual meet with Singapore Defence Industry Working Group bilateral today. The meeting was co-chaired by V.L. Kantha Rao, Additional Secretary, Department of Defence Production, Ministry of Defence, India and Mr. Mervyn Tan, Deputy Secretary
Posted Date :  21-10-20

Read more

ONGC and Oil organized a webinar for chemical development

New Delhi:Oil and Natural Gas Corporation Limited, the biggest public sector commercial organization in India (ONGC) organized an interaction with Local Manufacturers on “To make India self-reliant and self-sufficient nation” this interaction held on 20 October 2020 to develop domesti
Posted Date :  21-10-20

Read more