SAIL Posts 66.5% Decline in Q3 FY25 Net Profit, But Revenues Up 4.9%

New Delhi, February 12, 2025: Steel maker Steel Authority of India Ltd. on February 11 reported a 66.5 per cent year-on-year (YoY) decline in net profit at INR 141.9 crore for the third quarter that ended December 31, 2024.

SAIL had posted a net profit of INR 422.9 crore in the third quarter of 2023-24, the company said. SAIL’s revenue from operations, however, increased 4.9 per cent to INR 24,489.9 crore as against INR 23,348.6 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortisation) slipped by 5.3 per cent to INR 2,029.6 crore in the third quarter of this fiscal over INR 2,142.5 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 8.3 per cent in the reporting quarter as compared to 9.2 per cent in the corresponding period in the previous fiscal.

Commenting on the financial results, SAIL Chairman Amarendu Prakash said, “In the face of a challenging steel market characterized by declining prices and an influx of cheap imports, SAIL has managed to achieve better EBITDA during the Q3FY25 compared to the corresponding period last year. We remain steadfast in our commitment to boost production and enhance cost efficiency, while simultaneously further explore and adopt greener technologies. We expect that with appropriate interventions, the issue of cheap imports will be addressed and government’s drive on infrastructure development will bode well for the domestic steel industry while driving the demand further.”