SAIL posts Rs 3,645 cr Profit Before Tax

The Steel Authority of India Limited (SAIL) registered Rs 3,645 crore Profit Before Tax during Q3FY21 marking a substantial growth over the corresponding period last year.

The  Maharatna steelmaker declared its financial performance results for the third quarter of current financial year (Q3 FY21) and nine months (9M FY21) ending December 31, on January 29.

The hot metal production of the company was at 4.8 MT, during the quarter, a growth of 12 pc over CPLY. While the crude steel production was at 4.37 MT, the saleable steel production was at 4.15 MT, a growth of 9 pc and 6 pc over CPLY. The sales (domestic + exports) at 4.15 MT witnessed a growth of around 1 pc over CPLY.

Soma Mondal, Chairman, SAIL, commented: “The worst is behind us. SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started. It has always been SAIL’s strategy to operate in sync with the market situation. As we look ahead, we are confident of improving the performance further in the remaining period of the financial year.”