SAIL Posts Net Profit in Second Quarter of 2020-21
Indian state owned Steel Authority of India Limited has declared the financial results for the second quarter of the current Financial Year 2020-21. During Q2
FY’21, the Company has posted Profit Before Tax of INR 610.32 Crore and Profit After Tax of INR 393.32 Crore against loss of INR 523.03 Crore and INR 342.84 Crore respectively for PBT and PAT over the Corresponding Period Last Year. Signifying the pick-up in performance and activities, SAIL’s turnover in Q2 FY’21 also registered an improvement of more than 20% over CPLY and stood at INR 16834.1 Crore. The EBITDA of Q2 FY’21 registered an astounding growth of 58.7% over CPLY and stood at INR 2098.09 Crore.
With the strategic focus on enhancing the saleable steel production, the Company registered the best ever saleable steel Q2 production of 3.752 million tonne in Q2 FY’21 surpassing the previous best of 3.658 million tonne achieved during Q2 FY’18. The saleable steel production in Q2 FY’21 grew by 5% over CPLY. SAIL registered an impressive 31.3% growth in sales during Q2 FY’21 over CPLY.
The focus on operational efficiency also resulted in improvement in the key Techo-economic parameters during Q2 FY’21 viz. Coke Rate (4%), Blast Furnace Productivity (9%) and Specific Energy Consumption (1%) over CPLY.