SAIL posts Rs 8.34 Bn net profit for July-September quarter

11 Nov 2024 CW Team

The company's revenue was adversely impacted by the flood of cheap Chinese imports which led to a decline in steel prices. SAIL revenue came down by 17 % to Rs 246.75 billion during the second quarter compared to Rs 29,714 crore in the same quarter of the previous year.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) declined to Rs 31.74 billion during the second quarter from Rs 40.43 billion in the same period last year. According to a SAIL statement, the company's performance in the second quarter of the current financial year has shown improvement compared to the previous quarter. Revenue from operations, EBITDA, and sales volume all increased in Q2 FY'25 over Q1 FY'25.

However, lower performance in Q2 FY'25 compared to the same period last year (Q2 FY'24) was influenced by factors like cheaper imports which led to a decline in prices.

Commenting on the results, SAIL Chairman Amarendu Prakash said: "We expect H2 FY'25 to bring more promising results compared to H1 FY'25, which was impacted by various challenges. Moving forward, with the expected downtrend in steel imports and projected growth in GDP & capital expenditure, the second half of FY'25 may yield better performance."

Steel Authority of India Ltd will be investing Rs 65 billion towards capex during the current financial year as part of its Rs 1 trillion investment plan over the next few years, Prakash said earlier this year. He also said that SAIL has a regular capex on maintaining its facilities, as well as debottlenecking exercises. Most of the capex expansion to be invested by 2030 will start flowing from FY26.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Public sector steel giant SAIL reported a standalone net profit of Rs 8.34 billion for the July-Sept quarter of the current financial year which represents a 32.7 % decline over the corresponding figure of Rs 12.41 billion during the same quarter of 2023-24. The company's revenue was adversely impacted by the flood of cheap Chinese imports which led to a decline in steel prices. SAIL revenue came down by 17 % to Rs 246.75 billion during the second quarter compared to Rs 29,714 crore in the same quarter of the previous year. The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) declined to Rs 31.74 billion during the second quarter from Rs 40.43 billion in the same period last year. According to a SAIL statement, the company's performance in the second quarter of the current financial year has shown improvement compared to the previous quarter. Revenue from operations, EBITDA, and sales volume all increased in Q2 FY'25 over Q1 FY'25. However, lower performance in Q2 FY'25 compared to the same period last year (Q2 FY'24) was influenced by factors like cheaper imports which led to a decline in prices. Commenting on the results, SAIL Chairman Amarendu Prakash said: We expect H2 FY'25 to bring more promising results compared to H1 FY'25, which was impacted by various challenges. Moving forward, with the expected downtrend in steel imports and projected growth in GDP & capital expenditure, the second half of FY'25 may yield better performance. Steel Authority of India Ltd will be investing Rs 65 billion towards capex during the current financial year as part of its Rs 1 trillion investment plan over the next few years, Prakash said earlier this year. He also said that SAIL has a regular capex on maintaining its facilities, as well as debottlenecking exercises. Most of the capex expansion to be invested by 2030 will start flowing from FY26.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..