SAIL declares financial result for Q1 FY’25
SAIL declares financial result for Q1 FY’25
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”.