+
SAIL posts Rs 8.34 Bn net profit for July-September quarter
ECONOMY & POLICY

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

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Perkins Begins Production of 5016 Power Generation Engine

Perkins has commenced production of its new 5016 full-authority electronic engine, completing its 5000 Series range of 6-, 8-, 12- and 16-cylinder engines. Manufactured in Stafford, UK, and Aurangabad, India, the range delivers up to 2,500 kVA of standby power and 2,250 kVA of prime power.The 61-litre V16 engine delivers 1,400–2,500 kVA at 50 Hz for base load, prime and standby applications. Designed for power generation, it supports critical infrastructure, including data centres, hospitals, airports and remote worksites.Engineered to meet ISO G3 and NFPA110 standards, the 5016 incorporates..

Next Story
Real Estate

JAPAN BUILD Tokyo 2026 Expects 35,000 Visitors

RX Japan GK will organise the 11th edition of JAPAN BUILD Tokyo at Tokyo Big Sight from 2–4 December 2026, with approximately 35,000 visitors expected from the building, construction and real estate sectors.The exhibition will bring together manufacturers, developers, contractors, architects, distributors and property owners. According to the organiser, 51.2 per cent of visitors hold managerial positions or above, providing exhibitors with opportunities to engage with procurement decision-makers. The previous edition attracted 33,618 visitors and 548 exhibitors.JAPAN BUILD Tokyo will feature..

Next Story
Infrastructure Urban

Magma Signs LOIs Worth Over Rs 8 Bn Across Industrial Businesses

Magma has signed Letters of Intent (LOIs) worth more than Rs 8 bn across its advanced materials, waste management, precision engineering and digital industrial solutions businesses.The company expects to execute around 70 per cent of the current LOI pipeline during FY27, providing visibility for the remainder of the financial year. The pipeline reflects rising demand from enterprise manufacturers and deeper engagement across Magma’s customer relationships.India’s industrial B2B trade is estimated at around USD 2 trillion. In precision engineering, imports account for 60-65 per cent of high..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code