Public sector steel behemoth SAIL on Friday reported more than a 3-fold jump in net profit to Rs 1,241 crore for the July-Sept quarter of the current financial year.
The company had recorded a Rs 386 crore net profit in the same quarter of the previous year.
“The Company has achieved its best ever performance in production and sales for H-1 and Q2 of the current financial year. The crude steel production and sales volume have registered a growth of 9.7 per cent and 17.4 per cent respectively during H1 FY’24 over the corresponding period of last year,” according to a SAIL statement.
Similarly, in Q2 of this financial year, crude steel production and sales volume have increased by 11.6 per cent and 13.3 per cent respectively over the corresponding period last year, it added.
The consistent efforts by the company towards increasing its volumes have had a positive impact on the financial performance despite the significant decline in the price realization in the market.
The company remains committed towards improving capacity utilization, value addition and cost competitiveness besides De-carbonisation efforts, the SAIL statement added.
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