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SAIL declares financial result for Q1 FY 25; domestic steel consumption grows

By TIOL News Service

NEW DELHI, AUG 09, 2024: STEEL Authority of India Limited (SAIL) has declared its financial results for the quarter ending 30th June, 2024.

Key highlights:

Performance of Q1 FY'25 (Standalone) at a glance:

 

 

Unit

Q1 23-24

Q4 23-24

Q1 24-25

Crude Steel Production

Million Tonnes

4.67

5.02

4.68

Sales Volume

Million Tonnes

3.88

4.56

4.01

Revenue from Operations

Rs. Crore

24,358

27,958

23,998

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)

Rs. Crore

2,090

3,829

2,420

Profit Before Exceptional Items and Tax

Rs. Crore

202

1,831

326

Exceptional Items

Rs. Crore

 -

(502)

(312)

Profit Before Tax (PBT)

Rs. Crore

202

1,329

14

Profit After Tax (PAT)

Rs. Crore

150

1,011

11

During Q1 FY'25, the Company's EBITDA grew by more than 15% over the corresponding period last year (CPLY), indicating its steady core performance. However, revenue from operations was affected by a decline in Net Sales Realization (NSR)in the domestic steel market due to cheap imports. The profit for Q1 FY'25 was impacted by lower NSR and adjustments related to exceptional items.

Shri Amarendu Prakash, Chairman, SAIL, commented on the Q1 performance stating, "Domestic steel consumption continues to grow steadily, driven by both traditional and emerging sectors. Additionally, ongoing Government investments in the infrastructure sector, as announced in the recent budget, are expected to bolster growth. With a positive outlook for the domestic steel sector, SAIL is focused on increasing its production volumes. The challenges posed by cheaper imports are anticipated to be addressed appropriately in the future".


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