SAIL posts Rs 3,850 cr during first quarter

The Steel Authority of India Limited (SAIL) on August 6 declared its financial results for Q1 FY 2021-22 which reflect a robust performance.

According to a press release, the company made a profit after tax (PAT) of Rs 3,850 crore during the period as against Rs 1,270 crore made during Q1FY21.

Commenting on the performance, Soma Mondal, Chairperson, SAIL, said, “The company has been consistently seizing available opportunities to move up the value chain. The performance during the quarter bears the testimony to objective-driven strategy and resilience by the SAIL Collective despite the adverse impact of dominant second wave of COVID-19.”

She said though the demand for steel products in the quarter has not had the same momentum as during Q4 of FY21, “focused interventions in several areas of operations have helped in achieving this robust performance.”