SAIL Bengal units post Rs 876 crore profit before tax, interest in June quarter of FY22

By: |
August 07, 2021 9:48 PM

The aggregate sales of Durgapur Steel Plant, IISCO Steel Plant and Alloy Steels Plant in the state stood at about Rs 4,767 crore in the quarter under review.

SAIL Bengal units post Rs 876 crore profit before tax, interest in June quarter of FY22Domestic steel major SAIL had on Friday returned to the black, posting a consolidated net profit of Rs 3,897.36 crore for the June 2021 quarter.

Three units of Steel Authority of India (SAIL) in West Bengal have together posted Rs 876 crore profit before interest and tax in the first quarter of the 2021-22 fiscal, according to a company filing.

The aggregate sales of Durgapur Steel Plant, IISCO Steel Plant and Alloy Steels Plant in the state stood at about Rs 4,767 crore in the quarter under review, it said.

Durgapur Steel Plant reported Rs 2,511 crore sales during the three months ended June 30 this year as against Rs 1,279 crore in the corresponding quarter of FY21.

The unit posted Rs 635 crore profit before interest and tax as compared to a loss of Rs 61 crore in the same quarter of the previous year, according to the filing.
IISCO Steel Plant in Burnpur clocked a revenue of Rs 2,055 crore in the June quarter, up from Rs 1,470 crore in the year-ago period.

Its profit before interest and tax was at Rs 231 crore in the period under review as compared to a loss of Rs 276 crore in the corresponding quarter last year.

Alloy Steels Plant, located at Durgapur, posted a turnover of Rs 201 crore in the first quarter of the current fiscal and its profit before tax and interest was at Rs 10 crore.

Domestic steel major SAIL had on Friday returned to the black, posting a consolidated net profit of Rs 3,897.36 crore for the June 2021 quarter.

The company had posted a Rs 1,226.47-crore net loss in the year-ago quarter, it said in a BSE filing.

In June, SAIL had decided to dissolve its Raw Materials Division, based in Kolkata, and transfer control of its mines to Rourkela Steel Plant in Odisha and Bokaro Steel Plant in Jharkhand.

West Bengal Finance Minister Amit Mitra had urged the Centre to stop dismantling of the RMD of the state-owned SAIL, saying that it would result in job loss amid the Covid-19 pandemic.

Dharmendra Pradhan, then steel minister, had replied to Mitra and said there are no plans to terminate any employee of SAIL or reduce its headcount.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Power ministry notifies rules to address cost recovery concerns of renewable energy
2Apple confirms ‘High Power Mode’ for intensive workloads in 16-inch MacBook Pro with M1 Max
3Industry demands leather park scheme to boost growth