Published By: Mohammad Haris
Last Updated: November 10, 2023, 17:22 IST
Steel big SAIL on Friday returned to black, posting a consolidated internet revenue of Rs 1,305.59 crore for September quarter 2023-24, as greater gross sales volumes led to elevated earnings. It had incurred Rs 329.36 crore internet loss throughout July-September interval a yr in the past, Steel Authority of India Ltd (SAIL) mentioned in a regulatory submitting.
Total earnings rose to Rs 29,858.19 crore from Rs 26,642.02 crore in the year- in the past quarter. Expenses have been at Rs 27,768.52 crore as towards Rs 27,200.79 crore in the identical quarter a yr in the past.
“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 in the market. It remains committed towards improving capacity utilization, value addition and cost competitiveness besides de-carbonisation efforts,” SAIL mentioned in a press release. During the quarter, SAIL’s crude metal manufacturing rose to 4.80 million tonne (MT) from 4.30 MT in July-September 2022.
Sales improved to 4.77 MT over 4.21 MT in the yr-in the past interval. SAIL, beneath Ministry of Steel, is amongst India’s largest metal manufacturing firms with an annual put in capability of over 20 MT.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
