SAIL declares financial results for Q1 FY’24

Press Release
New Delhi

New Delhi, 10th August, 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:

 

Unit

Q1 22-23

Q4 22-23

Q1 23-24

Crude Steel Production

Million Tonne

4.33

4.95

4.67

Sales Volume

Million Tonne

3.15

4.68

3.88

Revenue from Operations

Rs. Crore

24,029

29,131

24,358

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)

Rs. Crore

2,606

3,401

2,090

Profit Before Tax (PBT)

Rs. Crore

1,038

1,480

202

Profit After Tax (PAT)

Rs. Crore

776

1,049

150

 

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.

 

 

SAIL/PR/09/2023-24                                                                          Date: 10.08.2023

 

Press Release No
SAIL/PR/09/2023-24