Steel Authority of India Ltd. (SAIL) has earned Profit Before Tax (PBT) of INR 82 Crore in the third quarter of this current financial year (Q3FY18) after ten quarters. This marks an evident step in the turnaround of the Company which continually thwarted challenges and has steadily moved forward towards profitability.
Maintaining strong and EBIDTA positive performance for seven consecutive quarters in Q3FY18 also SAIL has registered EBITDA of INR 1571 Crore, which is a phenomenal jump as against EBITDA of Rs 35 Crore during CPLY. Likewise, the EBITDA per tonne of steel for the current quarter at INR 4162 is significantly higher over CPLY, which was at INR 107 and even sequentially, it grew more than 50% over the Q2FY18.
Steadily intensifying production ramp up from its new mills, SAIL is targeting higher sales volume coupled with more value added and enriched products. Company’s strategic planning on production and marketing front, including newer domestic and potential export destinations, has helped SAIL achieve the strong result and start its journey of returning to profits. Read More…
