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.

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.

Building Material

12 Sep 2025

Trishakti Industries Secures Major Tata Steel Order

Trishakti Industries Limited has secured a significant order from Tata Steel Ltd for the deployment of advanced machinery and skilled manpower at one of the steel major’s flagship project sites.The contract, awarded domestically, involves the hiring of machines along with manpower, with execution set to be completed by 20th September 2025. The initial contract period is 12 months. The total fresh capital expenditure for the project is approximately Rs 1.5 million, while the overall contract value is expected to exceed Rs 5 million inclusive of taxes.This order marks a reinforcement of top-ti..

Real Estate

12 Sep 2025

Kalpataru Projects Secures Rs 27.2 Billion in New Orders

Kalpataru Projects International Limited (KPIL), a leading EPC player in the power transmission and distribution (T&D) and civil infrastructure sector, along with its international subsidiaries, has received new orders and notifications for projects worth approximately Rs 27.2 billion.The projects include:Power Transmission & Distribution (T&D) initiatives in India and overseas.Buildings and Factories (B&F) projects in India.Manish Mohnot, MD & CEO of KPIL, said, “We are delighted with the strong ordering momentum in our T&D and B&F businesses. The orders include ..

Infrastructure Energy

12 Sep 2025

ACME Solar Secures Rs 38.92 Billion Financing for Barmer Project

ACME Solar Holdings rose 2.05 per cent to Rs 308.50 after its wholly owned subsidiary, ACME Venus Urja, secured long-term project financing of Rs 38.92 billion from the State Bank of India (SBI).The funds will be utilised for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Barmer, Rajasthan. The loan repayment is structured over 19 years.The Barmer-based FDRE project is contracted with NHPC at a tariff of Rs 4.64 per unit. It will integrate solar power generation with a Battery Energy Storage System (BESS) to ensure higher reliability and d..