Team News Riveting
New Delhi, February 13
Steel Authority of India Limited (SAIL) has declared its financial results for the quarter and nine months ending 31st December, 2023.
Key highlights:
Performance of 9M FY 24 (Standalone) at a glance:
| Unit | 9M 22-23 | 9M 23-24 | |
| Crude Steel Production | Million Tonne | 13.34 | 14.22 |
| Sales Volume | Million Tonne | 11.52 | 12.46 |
| Revenue from Operations | Rs. Crore | 75,317 | 77,417 |
| Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) | Rs. Crore | 5978 | 8451 |
| Profit Before Exceptional Items and Tax | Rs. Crore | 859 | 2698 |
| Exceptional Items | Rs. Crore | (298) | 339 |
| Profit Before Tax (PBT) | Rs. Crore | 1157 | 2359 |
| Profit After Tax (PAT) | Rs. Crore | 854 | 1722 |
Performance of Q3 FY 24 (Standalone) at a glance:
| Unit | Q3 22-23 | Q2 23-24 | Q3 23-24 | |
| Crude Steel Production | Million Tonne | 4.71 | 4.80 | 4.75 |
| Sales Volume | Million Tonne | 4.15 | 4.77 | 3.81 |
| Revenue from Operations | Rs. Crore | 25,042 | 29,714 | 23,345 |
| Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) | Rs. Crore | 2198 | 4,043 | 2,319 |
| Profit Before Exceptional Items and Tax | Rs. Crore | 336 | 2,111 | 384 |
| Exceptional Items | Rs. Crore | (298) | 415 | (76) |
| Profit Before Tax (PBT) | Rs. Crore | 635 | 1,696 | 461 |
| Profit After Tax (PAT) | Rs. Crore | 464 | 1,241 | 331 |
The Company has achieved its best ever performance in production and sales for 9M of the financial year. The crude steel production and sales volume have registered a growth of 6.6 per cent and 8.2 per cent respectively during 9M FY’24 over CPLY.
Amarendu Prakash, Chairman, SAIL said, “The consistent efforts by the Company towards increasing its volumes have had a positive impact on the financial performance despite the significant decline in the price realization during the quarter. The Company remains steadfast in its commitment towards sustainable performance including emphasis on de-carbonisation, improving capacity utilization, value addition, enhanced digitalization and achieving cost competitiveness”.
