SAIL posts profit of Rs 540.43 crore

Steel Authority of India Ltd. (SAIL) posted a profit of Rs 540.43 crore. SAIL’s turnover in Q1 FY19 rose by 22.42 per cent over CPLY to Rs 15,743.21  crore. The EBITDA in Q1 FY19 was recorded at Rs 2685.46 crore which was Rs 22.71 Crore in CPLY, indicating an acceleration of the overall performance of the Company through concerted efforts of the entire collective. SAIL is bringing comprehensive improvements in its entire operations which are backed by efforts for improving efficiencies and improved techno- economic parameters.

In the first quarter of FY 19, company’s saleable steel production was 3.61 Million Tonnes (MT) which rose 13 percent over CPLY. The Company’s sales volume at 3.271 MT in Q1 FY19 was also 8 percent higher over CPLY and the EBITDA per tonne of sales at Rs 8211 for Q1 FY19 reflects a robust functioning of all the processes. The Company recorded improvement in all the techno-economic parameters including Coke Rate by 3 per cent, Blast Furnace productivity by 2 per cent and Specific Energy Consumption by 3 per cent over CPLY. Speaking on the occasion, Chairman, SAIL Saraswati Prasad said that operational performance of the company has recorded improvement over the past many quarters and this trend is likely to continue.