SAIL net profit jumps 31% to Rs 3,470 crore in fourth quarter

Complete bills throughout the quarter had been at Rs 18,829 crore, as in opposition to Rs 11,682 crore the yr earlier than. SAIL diminished its finance prices by round 40% throughout the quarter to Rs 540 crore.

Steel Authority of India (SAIL) on Friday reported a 31% rise in consolidated internet revenue at Rs 3,470 crore for the January-March quarter of the 2020-21 fiscal on greater margins.

The corporate had clocked a internet revenue of Rs 2,648 crore within the January-March interval of the final fiscal, it stated in a regulatory submitting. Through the quarter underneath evaluation, the corporate’s complete earnings rose to Rs 23,533 crore, up 42% from Rs 16,575 crore within the year-ago interval.

Brokerage agency ICICI Securities stated SAIL’s EBITDA margin for the January-March quarter was 26.4%, as in opposition to 11.5% in the identical quarter earlier fiscal.

Complete bills throughout the quarter had been at Rs 18,829 crore, as in opposition to Rs 11,682 crore the yr earlier than. SAIL diminished its finance prices by round 40% throughout the quarter to Rs 540 crore.

SAIL stated in an announcement that within the January-March quarter, it clocked its highest-ever quarterly scorching steel, crude metal and saleable metal manufacturing of 4.98 million tonne (MT), 4.56 MT and 4.42 MT, respectively — registering 8%, 6% and 11% progress, respectively over the corresponding interval final fiscal.

For all the 2020-21 fiscal, SAIL’s internet revenue rose to Rs 4,148 crore from Rs 2,121 crore a yr earlier. Its income from operations rose to Rs 69,114 crore from Rs 61,664 crore.

Throughout 2020-21, SAIL pruned its internet debt by Rs 16,131 crore to Rs 35,350 crore as on March 31, 2021. The corporate clocked its best-ever annual gross sales in 2020-21 at 14.94 MT, a progress of 5% over the earlier yr.