SAIL registers Rs 3645 Crore Profit Before Tax during Q3 FY21 marking a substantial growth over CPLY

Press Release
New Delhi

New Delhi, 29th January, 2021: Steel Authority of India Limited (SAIL), the Maharatna steelmaker, has declared its financial performance results for the third quarter of current financial year (Q3 FY21) and nine months (9M FY21), both ending 31st December, 2020.

BOF

Key highlights of Q3 FY21

Hot metal production at 4.8 MT, growth of 12% over CPLY
Crude steel production at 4.37 MT, growth of 9% over CPLY
Saleable steel production at 4.15 MT, growth of 6% over CPLY
Total sales (domestic + exports) of 4.15 MT, growth of around 1% over CPLY
* MT is Million Tonnes

Financial Performance in FY-21

 

 

Q3:FY21

Q3:FY20

% GROWTH

9M: FY 21

9M: FY 20

% GROWTH

Turnover

19614

16405

19.6%

45286

45001

0.6%

EBITDA

5294

1186

346.4%

7267

4267

70.3%

Profit Before Tax (PBT)

3645

(591)

716.3%

2271

1011

124.7%

Profit After Tax (PAT)

1283

(430)

398.7%

406

(704)

157.7%

  • All in Rs Crore

There has been a countrywide turnaround in the overall economic activities after the short pause set in during the pandemic. In sectors like infrastructure, construction, manufacturing and automobiles, there has been a relatively rapid recovery. As these sectors are major steel consumers, the recovery in them have helped the up-rise in demand in domestic steel sector. The concerted thrust of the government to strengthen the infrastructure of the country has helped the domestic steel sector witness healthy demand generation.

WheelRail

Smt. Soma Mondal, Chairman, SAIL, commented, “The worst is behind us. SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started. It has always been SAIL’s strategy to operate in sync with the market situation. As we look ahead, we are confident of improving the performance further in the remaining period of the financial year.”

Wire

                                                                                                                                                                   

                                                                                                                                                                            Date: 29.01.2021

Press Release No
SAIL/PR/2020-21/42