This PSU steel maker just recorded its best ever single-day performance; read about it

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Updated: December 15, 2018 12:40:51 PM

The largest steelmaker of the country Steel Authority of India Ltd (SAIL) on Thursday posted its best-ever performance in hot metal output in just a single-day.

It was on November 24 that SAIL had achieved its previous best of 54,786 tonnes.

The largest steelmaker of the country, Steel Authority of India Ltd (SAIL), on Thursday posted its best-ever performance in hot metal output in a single-day. The PSU giant produced 55,282 tonnes of hot metal surpassing its last best on June  8 earlier this year. “Steel Authority of India Ltd (SAIL) has clocked its best ever hot metal production in a single day at 55282 tonnes on 13th December,” the PSU said in a statement today.

It was on November 24 that SAIL had achieved its previous best of 54,786 tonnes. On Thursday, SAIL’s Rourkela steel plant also set a new benchmark by producing 13,051 tonnes of hot metal.

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The company is augmenting output from its new plants and is also focussed on operating at its rated capacity after the commissioning of all its new blast furnaces at its three integrated steel units — Rourkela, IISCO and Bhilai, PTI reported citing company statement.

Meanwhile, Steel Authority of India (SAIL) reported a standalone net profit of Rs 554 crore during the July-September quarter on the back of higher steel prices and improved realisation. The company had posted a loss of Rs 540 crore during the same period a year back.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) at Rs 2,474 crore was up 156% year-on-year. Total income increased 23 percent to Rs 16,832 crore. However, finance costs went up to Rs 771 crore from Rs 643 crore a year earlier.

Sales during the period saw a marginal improvement at 3.47 million tonne and realisation was higher due to increased prices of the alloy.

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