News
SAIL Records Best Ever 9M Prodn, Sales
New Delhi, February, 2024: Steel Authority of India Limited (SAIL) has declared its financial results for the quarter and nine months ending December 31, 2023.
Key highlights:
Performance of 9M FY 24 (Standalone) at a glance:
Unit 9M 22-23 9M 23-24 Crude Steel Production Million Tonne 13.34 14.22 Sales Volume Million Tonne 11.52 12.46 Revenue from Operations Rs. Crore 75,317 77,417 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) Rs. Crore 5978 8451 Profit Before Exceptional Items and Tax Rs. Crore 859 2698 Exceptional Items Rs. Crore (298) 339 Profit Before Tax (PBT) Rs. Crore 1157 2359 Profit After Tax (PAT) Rs. Crore 854 1722
Performance of Q3 FY 24 (Standalone) at a glance:
Unit Q3 22-23 Q2 23-24 Q3 23-24 Crude Steel Production Million Tonne 4.71 4.80 4.75 Sales Volume Million Tonne 4.15 4.77 3.81 Revenue from Operations Rs. Crore 25,042 29,714 23,345 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) Rs. Crore 2198 4,043 2,319 Profit Before Exceptional Items and Tax Rs. Crore 336 2,111 384 Exceptional Items Rs. Crore (298) 415 (76) Profit Before Tax (PBT) Rs. Crore 635 1,696 461 Profit After Tax (PAT) Rs. Crore 464 1,241 331
The Company has achieved its best ever performance in production and sales for 9M of the financial year. The crude steel production and sales volume have registered a growth of 6.6% and 8.2% respectively during 9M FY’24 over CPLY.
Amarendu Prakash, Chairman, SAIL said, “The consistent efforts by the Company towards increasing its volumes have had a positive impact on the financial performance despite the significant decline in the price realization during the quarter. The Company remains steadfast in its commitment towards sustainable performance including emphasis on de-carbonisation, improving capacity utilization, value addition, enhanced digitalization and achieving cost competitiveness”.
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