SAIL declares financial results for Q2 and H1 FY’24

Press Release

New Delhi, 10th November, 2023: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter and half year ending 30th September, 2023.

Key highlights:

Performance of H1 FY 24 (Standalone) at a glance:

 

Unit

H1 22-23

H1 23-24

Crude Steel Production

Million Tonne

8.63

9.47

Sales Volume

Million Tonne

7.37

8.65

Revenue from Operations

Rs. Crore

50,275

54,071

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

Rs. Crore

3,780

6,132

Profit Before Exceptional Items and Tax

Rs. Crore

523

2,313

Exceptional Items

Rs. Crore

-

415

Profit Before Tax (PBT)

Rs. Crore

523

1,898

Profit After Tax (PAT)

Rs. Crore

391

1,390

 

Performance of Q2 FY 24 (Standalone) at a glance:

 

Unit

Q2 22-23

Q1 23-24

Q2 23-24

Crude Steel Production

Million Tonne

4.30

4.67

4.80

Sales Volume

Million Tonne

4.21

3.88

4.77

Revenue from Operations

Rs. Crore

26,246

24,358

29,714

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

Rs. Crore

1,174

2,090

4,043

Profit Before Exceptional Items and Tax

Rs. Crore

(516)

202

2,111

Exceptional Items

Rs. Crore

-

-

415

Profit Before Tax (PBT)

Rs. Crore

(516)

202

1,696

Profit After Tax (PAT)

Rs. Crore

(386)

150

1,241

 

The Company has achieved its best ever performance in production and sales for H-1 and Q2 of the current financial year. The crude steel production and sales volume have registered a growth of 9.7% and 17.4% respectively during H1 FY’24 over CPLY. Similarly, in Q2 of this financial year, crude steel production and sales volume have increased by 11.6% and 13.3% respectively over CPLY.

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 in the market. The Company remains committed towards improving capacity utilization, value addition and cost competitiveness besides De-carbonisation efforts.

 

Press Release No
SAIL/PR/13/23-23