Steel Authority of India Limited announced its financial results for the fourth quarter and fiscal year ending March 31, 2023. Despite navigating a challenging economic climate, SAIL demonstrated resilience in various aspects of its operations. Crude steel production for the fiscal year stood at 18.29 million tonnes, showcasing a modest growth of 5.3%. Sales figures also witnessed a slight increase of 0.3%, totaling 16.2 million tonnes. However, the company faced a decline in profitability, with both Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) and Profit Before Tax (PBT) experiencing significant reductions of 58.1% and 83.6%, respectively.Taking a closer look at the fourth quarter of FY 2022-23, SAIL's performance remained steady. Crude steel production reached 4.95 million tonnes, reflecting a marginal decrease of 5.1% compared to the previous quarter. However, sales figures showed a positive trend, with a growth of 12.8% at 4.68 million tonnes. Despite the fluctuations, SAIL generated revenue from operations totaling INR 29,131 crore, representing a substantial increase of 16.3%. Furthermore, both PBT and Profit After Tax (PAT) demonstrated notable growth of 133.1% and 126.1%, respectively.
Steel Authority of India Limited announced its financial results for the fourth quarter and fiscal year ending March 31, 2023. Despite navigating a challenging economic climate, SAIL demonstrated resilience in various aspects of its operations. Crude steel production for the fiscal year stood at 18.29 million tonnes, showcasing a modest growth of 5.3%. Sales figures also witnessed a slight increase of 0.3%, totaling 16.2 million tonnes. However, the company faced a decline in profitability, with both Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) and Profit Before Tax (PBT) experiencing significant reductions of 58.1% and 83.6%, respectively.Taking a closer look at the fourth quarter of FY 2022-23, SAIL's performance remained steady. Crude steel production reached 4.95 million tonnes, reflecting a marginal decrease of 5.1% compared to the previous quarter. However, sales figures showed a positive trend, with a growth of 12.8% at 4.68 million tonnes. Despite the fluctuations, SAIL generated revenue from operations totaling INR 29,131 crore, representing a substantial increase of 16.3%. Furthermore, both PBT and Profit After Tax (PAT) demonstrated notable growth of 133.1% and 126.1%, respectively.
