HomeSteel & CommoditiesSAIL nets Rs.1,306 cr profit

SAIL nets Rs.1,306 cr profit

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Steel Authority of India recently reported a consolidated net profit of Rs 1,306 crore for the July-Sept quarter on the back of steady domestic demand and lower input costs.

The company had reported a net loss of Rs 329 crore in the year-ago period.

The steel giant posted 13% growth in consolidated revenue from operations at Rs 29,712 crore in Q2FY24 as against Rs 26,246 crore in Q2FY23

“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 per cent and 17.4 per cent respectively during H1 FY’24 over the corresponding period of last year,” according to a SAIL release.

Similarly, in Q2 of this financial year, crude steel production and sales volume have increased by 11.6 per cent and 13.3 per cent respectively over the corresponding period last year, it added.

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