Steel big SAIL on Friday returned to black, posting a consolidated internet profit of ₹1,305.59 crore for September quarter 2023-24, as larger gross sales volumes led to elevated earnings.
The firm had incurred ₹329.36 crore internet loss throughout July-September interval a yr earlier, Steel Authority of India Ltd. (SAIL) mentioned in a regulatory submitting.
Total earnings rose to ₹29,858.19 crore from ₹26,642.02 crore in the year-earlier quarter.
Expenses had been at ₹27,768.52 crore as in opposition to ₹27,200.79 crore in the identical quarter a yr earlier.
“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 production 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 year-earlier interval.
SAIL, below the Ministry of Steel, is amongst India’s largest metal manufacturing corporations with an annual put in capability of over 20 MT.
