Net Profit of SAIL Grows by 12% in Q3FY22; Best ever Production of hot metal, crude steel and saleable

 

 

by PIB Delhi

Steel Authority of India Limited (SAIL), under the Ministry of Steel declared the financial results giving the company’s performance during Q3 and 9M of the Financial Year 2021-22 (FY’22), here yesterday.

Key Highlights of SAIL’s performance during Q3 FY’22 and 9M FY’22

• Best ever Q3 and 9M production of hot metal, crude steel and saleable steel.
• Net profit grows by 12% in Q3FY22 over CPLY. Net profit grows to Rs. 9597 Crore during 9M FY’22 vis-à-vis Rs 406 Crore during CPLY
• Revenue from operations grows by 28% at Rs 25,245 Crore in Q3 FY’22 and 59% at Rs 72,715 Crore in 9M FY’22 over CPLY
• Borrowings stood at Rs 19,128 Crore as on 31.12.2021

SAIL’s Performance at a glance

 

	Q3 FY’22	Q3 FY’21	9M FY’22	9M FY’21
Financial Performance, in Rs Crore
EBITDA	3659	5294	17581	7267
PBT	1931	3645	12829	2271
PAT	1443	1283	9597	406
Physical Performance in Million Tonnes
Hot Metal Production	4.886	4.798	13.816	11.606
Crude Steel Production	4.531	4.368	12.77	10.659
Saleable Steel Production	4.365	4.153	12.455	10.184

 

     The company has delivered one of its best physical performances during the quarter as well as nine months ending 31^st Dec, 2021. However, the same is not reflected in the financial performance of Q3 FY’22 due to various factors beyond the control of the company which primarily include unprecedented increase in the prices of imported and indigenous coking coal. With the overall positive outlook in the economy and the announcements in the Union Budget for increasing the infrastructure spending, the performance is likely to improve in the coming quarters. The company’s focus remains to lower its borrowings and this is reflected in the reduction of about 15% over Q2.

 

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(With input from news agency language)

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