SAIL records net profit of Rs 436.52 crore

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November 7, 2020 4:15 AM

Saleable steel production of the company during the quarter stood at 3.752 MT, it’s best ever, up by 5% over the same period last year.

In the first quarter of the current fiscal, SAIL had reported a loss of Rs 1,226.47 crore.

The state-run Steel Authority of India (SAIL) on Friday reported a net profit of Rs 436.52 crore on a consolidated basis for the July-September quarter of the current fiscal, compared to a loss of Rs 285.92 crore in the corresponding quarter last fiscal.

In the first quarter of the current fiscal, SAIL had reported a loss of Rs 1,226.47 crore.

“Signifying the pick-up in performance and activities, SAIL’s turnover in Q2 FY21 also registered an improvement of more than 20% over CPLY and stood at Rs 16,834.1 crore. The EBITDA of Q2 FY21 registered an astounding growth of 58.1% over CPLY and stood at Rs 2,098.09 crore,” SAIL said in a statement.

Finance cost for the company reduced to Rs 720.37 crore during the reporting quarter from Rs 940.35 crore a year earlier.

Saleable steel production of the company during the quarter stood at 3.752 MT, it’s best ever, up by 5% over the same period last year.

“The company is determined to perform better in future and is geared up to take all necessary actions to remain a world-class domestic steel producer towards building an Atmanirbhar Bharat,” said chairman Anil Kumar Chaudhary.

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