News

SAIL declares financial result for Q1 FY’25

New Delhi, August 8, 2024: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter ending June 30, 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.

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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”.