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SAIL declares financial results for Q1 FY’24

New Delhi, August 10, 2023: 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:

 UnitQ1 22-23Q4 22-23Q1 23-24
Crude Steel ProductionMillion Tonne4.334.954.67
Sales VolumeMillion Tonne3.154.683.88
Revenue from OperationsRs. Crore24,02929,13124,358
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)Rs. Crore2,6063,4012,090
Profit Before Tax (PBT)Rs. Crore1,0381,480202
Profit After Tax (PAT)Rs. Crore7761,049150

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.